RTI Surgical Holdings, Inc. (NASDAQ: RTIX) Investor Securities Class Action Lawsuit 03/23/2020

If you purchased a significant amount of shares of RTI Surgical Holdings, Inc. (NASDAQ: RTIX) between March 7, 2016 and March 16, 2020, and / or if you purchased any NASDAQ: RTIX shares prior to March 2016 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: May 22, 2020. NASDAQ: RTIX 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): 
RTI Surgical Holdings
Case Name: 
RTI Surgical Holdings Shareholder Class Action Lawsuit 03/23/2020
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: RTIX
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
03/23/2020
Class Period Begin: 
03/07/2016
Class Period End: 
03/16/2020
Court of Filing: 
U.S. District Court for the Northern District of Illinois
Deadline To File for Lead: 
05/22/2020
Summary: 

An investor in shares of RTI Surgical Holdings, Inc. (NASDAQ: RTIX) filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by RTI Surgical Holdings, Inc. in connection with certain allegedly false and misleading statements made between March 7, 2016 and March 16, 2020.

Deerfield, IL based RTI Surgical Holdings, Inc., a surgical implant company, designs, develops, manufactures, and distributes biologic, metal, and synthetic implants worldwide. RTI Surgical Holdings, Inc. reported that its annual Total Revenue rose from $279.56 million in 2017 to $280.85 million in 2018 and that its Net Income of $6.27 million in 2017 turned into a Net Loss of $1.25 million in 2018.

On March 16, 2020, RTI Surgical Holdings, Inc. announced that it would not file its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (the "Annual Report") by the due date. The delay is due to an investigation of current and prior period matters relating to the Company's revenue recognition, primarily with OEM customers, including the accounting treatment, financial reporting, and internal controls related to such arrangements. The investigation was prompted by an ongoing SEC investigation related to the periods 2014 through 2016.

Shares of RTI Surgical Holdings, Inc. (NASDAQ: RTIX) declined from $4.51 per share on February 4, 2020, to as low as $1.73 per share on March 23, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of RTI Surgical Holdings, Inc. (NASDAQ: RTIX) common shares between March 7, 2016 and March 16, 2020, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 7, 2016 and March 16, 2020, the defendants made false and/or misleading statements and/or failed to disclose that the Company inappropriately recognized revenues with respect to certain contractual arrangements, including other equipment manufacturer customers, that the Company’s internal controls over financial reporting were not effective, that as a result, the Company would be forced to delay the filing of its Form 10-K for fiscal year ended December 31, 2019, and that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.