Shareholder Alert: Robbins LLP Announces It Is Investigating RTI Surgical Holdings, Inc. (RTIX) for Misleading Shareholders
May 07 2020 - 6:46PM
Business Wire
Shareholder rights law firm Robbins LLP announces that it is
investigating RTI Surgical Holdings, Inc. (NASDAQ: RTIX) for
alleged violations of the Securities Exchange Act of 1934 and
whether the Company's officers and directors breached their
fiduciary duties to shareholders. RTI is a surgical implant company
that designs, develops, manufactures, and distributes biologic,
metal, and synthetic implants worldwide.
If you suffered a loss as a result of RTI's misconduct, click
here.
RTI Surgical Holdings, Inc. (RTIX) Reveals SEC Investigation
of its Accounting Practices
In January 2018, RTI assured investors that its revenue
recognition after adopting the new amended accounting standards
implemented by the Financial Accounting Standards Board in 2016 was
"substantially consistent with the Company's current revenue
recognition policies" and RTI did not expect a material impact on
its financial position when recognizing revenue from its current
contracts with the new standard. However, on March 16, 2020, RTI
announced that it would be unable to timely file its Form 10-K for
fiscal year 2019, citing an internal investigation of the Company's
revenue recognition practices by its Audit Committee. RTI disclosed
that its internal investigation had been precipitated by an SEC
investigation related to the periods 2014 through 2016. On this
news, shares of RTI fell over 14% to close at $2.35. The stock
continues to decline.
RTI Surgical Holdings, Inc. (RTIX) Shareholders Have Legal
Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20200507006208/en/
Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
lkandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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