OPKO Health, Inc. (NASDAQ: OPK) Investor Securities Class Action Lawsuit 09/12/2018

If you purchased a significant amount of shares of OPKO Health, Inc. (NASDAQ: OPK) between September 26, 2013 and September 7, 2018, and / or if you purchased any NASDAQ: OPK shares prior to September 2013 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: November 13, 2018. NASDAQ: OPK investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
OPKO Health
Case Name: 
OPKO Health Shareholder Class Action Lawsuit 09/12/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: OPK
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
09/12/2018
Class Period Begin: 
09/26/2013
Class Period End: 
09/07/2018
Court of Filing: 
U.S. District Court for the District of New Jersey
Deadline To File for Lead: 
11/13/2018
Summary: 

An investor in shares of OPKO Health, Inc. (NASDAQ: OPK) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by OPKO Health, Inc. in connection with certain allegedly false and misleading statements made between September 26, 2013 and September 7, 2018.

Miami, FL based OPKO Health, Inc., a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally.

OPKO Health, Inc. reported that its annual Total Revenue declined from over $1.22 billion in 2016 to over $1.06 billion in 2017 and that its Net Loss increased from $25.08 million in 2016 to $308.87 million in 2017.

On September 7, 2018, the U.S. Securities and Exchange Commission (“SEC”) filed a lawsuit against OPKO Health, Inc. and its CEO and Chairman, Phillip Frost, alleging violations of the federal securities laws. The complaint alleges that Defendants were participants in “highly profitable ‘pump-and-dump’ schemes . . . from 2013 through 2018” in the stock of three public companies that, “while enriching Defendants by millions of dollars, left retail investors holding virtually worthless shares.”

Shares of OPKO Health, Inc. (NASDAQ: OPK) declined to as low as $4.02 per share on September 7, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of OPKO Health, Inc. (NASDAQ: OPK) common shares between September 26, 2013 and September 7, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between September 26, 2013 and September 7, 2018, the defendants made false and/or misleading statements and/or failed to disclose that OPKO Health, Inc. and its Chairman and Chief Executive Officer, Phillip Frost, were engaged in a pump-and-dump scheme with several other individuals and companies in their investments in several penny stocks, that this illicit scheme would result in governmental scrutiny including from the SEC, and that as a result, defendants’ statements about OPKO Health, Inc’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On September 12, 2018, NASDAQ: OPK shares closed at $4.58 per share.