Alphatec Holdings, Inc. Stock Purchasers File Class Action Lawsuit Complaint Against Alphatec Holings, Inc. Over Alleged Statements About Acquisition of Scient’x, S.A.
A securities fraud class action lawsuit has been filed against Alphatec Holdings, Inc. (“Alphatec” or “Defendant”), which designs, develops, manufactures and markets products for the surgical treatment of spinal disorders, in the United States District Court for the Southern District of California on behalf of a class consisting of all persons or entities who purchased Alphatec Holdings stock (symbol: ATEC) between December 18, 2009 and August 5, 2010 (the “Class Period”), alleging that Alphatec violated federal securities fraud laws by, among other things, overstating the impact its acquisition of Scient’x, S.A. would have on its earnings and revenue in order to allegedly obtain a higher price in a secondary stock offering that closed on or about April 21, 2010, according to class action lawsuit news reports.
The Alphatec Holdings securities fraud class action lawsuit complaint reportedly alleges that defendants positive statements were unrealistic since:
- pricing pressures were allegedly steadily increasing;
- Alphatec allegedly planned to dispose of its Asian distributor without any realistic plan to replace the revenues the distributor produced;
- Scient’x had allegedly exhibited almost no revenue growth in the first nine months of 2009, and its ability to market and sell in 2010 would allegedly be disrupted by Alphatec’s acquisition; and
- integrating Alphatec and Scient’x would be a long process, which would allegedly negatively affect 2010 revenues.
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