Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF INTEGRA LIFESCIENCES HOLDING CORP. (NASDAQ: IART)

Integra LifeSciences Holdings Corporation (NASDAQ: IART) is a medical device company that manufactures, among other things, regenerative technology focused on the areas of complex wound surgery, surgical reconstruction, and peripheral nerve repair. Several of these products, which include SurgiMend, PriMatrix, Revize, and TissueMend, are principally manufactured at the Company’s Boston Facility. SurgiMend, one of Integra’s principal Tissue Technologies products, is an implant approved by the U.S. Food and Drug Administration for use as a reinforcement for soft tissue where weakness exists, including within plastic and reconstructive surgery.

An underlying securities fraud class action complaint alleges that the Company, via certain of his officers and directors, repeatedly touted that it was on track to grow SurgiMend’s addressable market by obtaining FDA approval for use in post-mastectomy reconstruction, and that these misrepresentations caused the price of Integra common stock to trade at artificially inflated prices.

On May 23, 2023, the Company announced a “recall” of all products manufactured at the Boston Facility between March 1, 2018 and May 22, 2023. Integra explained that it had determined that the Boston Facility deviated from good manufacturing practices in testing for bacterial endotoxin and allowed the release of products with unsafe levels of endotoxins. The Company also extended the pause on all production at the Boston Facility. As a result of the recall and manufacturing shutdown, the Company revised its guidance for the second quarter of 2023, lowering its revenue expectations by 6% and adjusted earnings per diluted share by 26%. The Company further disclosed that it expected to take a $22 million impairment charge in the second quarter due to the inventory write-off.

Current Integra LifeSciences shareholders who have held IART shares since on or before March 11, 2019, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.

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.

Join This Action
Name*
First Last
Email Address*
Address*
Street Address City State / Province / Region ZIP / Postal Code
Phone*
Stock Name or Ticker
Number of Shares Purchased
Date(s) Shares Purchased
Purchase Price Per Share
Number of Shares Sold
Date(s) Shares Sold
Sale Price Per Share
Comments
Alternatively, you may upload your transactions using the upload button below or email them to jgrabar@grabarlaw.com. *
File
Drop files here or

Max. file size: 100 MB.
Consent*
By signing and clicking the Submit button below, I hereby execute the Retention Agreement and, upon execution of the Retention Agreement by Grabar Law Office, retain Grabar Law Office to make a demand and bring any ensuing lawsuit on my behalf pursuant to the terms set forth in the Retention Agreement, which is incorporated herein by reference.*
Please sign below using your mouse or touch-pad.*
Signed pursuant to California Civil Code Section 1633.1, et seq. and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.
Date of signing: *
Date of Signing:*
MM slash DD slash YYYY
Phone
This field is for validation purposes and should be left unchanged.

Attorney Advertising Disclaimer

Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF INTEGRA LIFESCIENCES HOLDING CORP. (NASDAQ: IART)

Join This Action