Kaskela Law LLC is investigating potential breach of fiduciary duty claims concerning Integra LifeSciences Holdings Corp. (NASDAQ: IART) (“Integra”) on behalf of long-term IART shareholders
Recently a securities fraud complaint was filed against Integra on behalf of certain investors who purchased shares of the company’s stock between March 11, 2019 and May 22, 2023 (the “Wrongdoing Period”). According to the complaint, during the Wrongdoing Period, Integra and certain of the company’s senior executive officers issued a series of materially false and misleading statements to investors concerning “Integra’s systemic, serious, and recurring violations of current Good Manufacturing Practices (“cGMP”), which are foundational FDA regulations governing product quality and safety in connection with the manufacture of the Company’s biologic mesh.”
As further detailed in the complaint, on July 29, 2024, investors learned the full truth about Integra’s rampant cGMP violations. On that day, Integra disclosed systemic cGMP deficiencies and shipping holds across all Company facilities, requiring Integra to implement a Company-wide “compliance master plan to address quality system and cGMP learnings.” Significantly, the “compliance master plan” required a complete production halt on all of Integra’s key product lines. As a result, Integra’s stock price declined 21% in value.
Kaskela Law is investigating whether the members of Integra’s board of directors violated the securities laws or breached their fiduciary duties in connection with the above alleged misconduct.
Current Integra shareholders who purchased or acquired IART shares prior to April 26, 2023 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at 484-229-0750, by email at [email protected], or by completing the form on this page.