NEW YORK, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Bioventus Inc. (“Bioventus” or the “Company”) for violations of the federal securities laws on behalf of investors who purchased or otherwise acquired: (a) Bioventus Class A common stock pursuant and/or traceable to the Offering Documents issued in connection with the Company’s initial public offering conducted on or about February 11, 2021 (the “IPO” or “Offering”); and/or (b) Bioventus securities between February 11, 2021 and November 21, 2022, both dates inclusive (the “Class Period”).
On January 12, 2023, a complaint was filed against Bioventus and certain of its officers, alleging that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (i) Bioventus suffered from significant liquidity issues; (ii) the Company’s rebate practices were unsustainable; (iii) accordingly, Defendants overstated the Company’s business and financial prospects; (iv) Bioventus maintained deficient disclosure controls and procedures and internal control over financial reporting with respect to the timely recognition of quarterly rebates; (v) all the foregoing increased the risk that the Company would be forced to recognize a significant non-cash impairment charge, could not timely file one or more of its financial reports, would have to amend one or more of its financial statements, and could not meet its financial obligations as they came due; and (vi) as a result, the Offering Documents and Defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.
When investors learned the truth, Bioventus’ common stock declined precipitously, injuring investors.
If you suffered a loss in Bioventus’ securities, and wish to participate, or learn more, click here, or please contact our attorneys at (914) 733-7234 or via email at investigations@lowey.com.
Any investor who wishes to serve as Lead Plaintiff must act before March 13, 2023.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
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White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg P.C.
