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Company: Surgalign Holdings, Inc.
Kaskela Law LLC announces that it is investigating Surgalign Holdings, Inc. (“Surgalign” or the “Company”) (NASDAQ: SRGA), formerly known as RTI Surgical Holdings, Inc. (NASDAQ: RTIX), on behalf of the Company’s long-term stockholders.
Recently an amended securities fraud complaint was filed against Surgalign on behalf of investors who purchased shares of the Company’s common stock between March 7, 2016 and March 27, 2020. According to the complaint, during that time period Surgalign and certain senior executive officers made a series of false and/or misleading statements to investors concerning the Company’s revenue recognition practices. Specifically, the complaint details how “[a]t the heart of [Surgalign’s] revenue recognition manipulation was the practice of ‘revenue smoothing,’ through which the Company regularly shipped products to customers early so that management could hit quarterly revenue targets.”
The investigation seeks to determine whether the members of Surgalign’s board of directors breached their fiduciary duties to the company and its stockholders in connection with the above alleged misconduct.
Current Surgalign stockholders who purchased or acquired shares of the Company’s common stock prior to March 27, 2020 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by completing the information form on this page, for additional information about this investigation and their legal rights and options.