RTI Surgical Holdings, Inc.: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois against RTI Surgical Holdings, Inc.
NEW YORK, April 1, 2020 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP reminds purchasers of the securities of RTI Surgical Holdings, Inc. (NASDAQ: RTIX) ("RTI") between March 7, 2016 and March 16, 2020, inclusive (the "Class Period"), of the important May 22, 2020 lead plaintiff deadline in the federal securities class action filed in the United States District Court for the Northern District of Illinois.
All investors who purchased shares of RTI Surgical Holdings, Inc. and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in the shares of RTI Surgical Holdings, Inc., you may, no later than May 22, 2020, request that the Court appoint you lead plaintiff of the proposed class.
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According to the filed complaint, defendants throughout the Class Period 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;
- the Company's internal controls over financial reporting were not effective;
- 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
- 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
On March 16, 2020, RTI disclosed that its Audit Committee was investigating "the Company's revenue recognition practices regarding the timing of revenue with respect to certain contractual arrangements, primarily with OEM customers, including the accounting treatment, financial reporting and internal controls related to such arrangements." RTI advised investors that the investigation was "precipitated by an ongoing Securities and Exchange Commission (SEC) investigation related to the periods 2014 through 2016."
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
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