Bioventus Inc. (NASDAQ: BVS) is a medical device company that focuses on developing and commercializing clinical treatments to engage and enhance the body's natural healing process. The Company offers pain treatments, peripheral nerve stimulation products, surgical solutions, ultrasonic medical devices, and restorative therapies. Bioventus serves physicians in various orthopedic settings.

On January 20, 2021, Bioventus filed the Registration Statement on Form S-l with the SEC in connection with the IPO, which, after several amendments, was declared effective by the SEC on February 10, 2021. On or about February 11,2021, pursuant to the Registration Statement, Bioventus conducted the lPO, issuing 8 million shares of its Class A common stock to the public at the Offering price of $13.00 per share. On February 12, 2021, Bioventus filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement.

A securities fraud class action complaint alleges that Bioventus, through certain of its officers and directors, made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Complaint alleges that 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 were materially false and/or misleading and failed to state information required to be stated therein.

On November 6, 2023, by order of the United States District Court for the Middle District of North Carolina, the Defendants’ motion to dismiss the second amended complaint was denied, and the Plaintiffs Exchange Act claims under § 10(b) and § 20(a) were allowed proceed.

Current Bioventus shareholders who have held Bioventus shares since on or shortly after its February 12, 2021 IPO can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever.

If you would like to learn more about this matter, you are encouraged to contact us at jgrabar@grabarlaw.com, or call 267-507-6085.