A federal judge has granted final approval to an $11 million cash settlement achieved by Lead Plaintiff Plumbers and Pipefitters National Pension Fund. The settlement was reached with defendants Orthofix International N.V. and three of its former officers, Robert S. Vaters, Brian McCollum, and Emily Buxton.
At a hearing on April 29, 2016, Judge John G. Koeltl of the United States District Court for the Southern District of New York ordered that a proposed class be certified for settlement purposes and that the preliminarily-approved settlement be granted final approval. Judge Koeltl also ordered that Lead Counsel Cohen Milstein Sellers & Toll PLLC's request for attorneys' fees and reimbursement of expenses be granted, and that Lead Plaintiff's litigation expenses also be reimbursed.
Judge Koeltl’s April 29 ruling finally resolves securities fraud claims asserted under Section 10(b) and 20(a) of the Securities Exchange Act of 1934 by the Lead Plaintiff against the defendants for alleged material misrepresentations and omissions concerning the company’s financial statements.
The $11,000,000 cash settlement benefits a class of persons and entities who purchased Orthofix International N.V. common stock between March 2, 2010 and July 29, 2013.
Lead Plaintiff and the Class are represented by Daniel S. Sommers, Carol V. Gilden, S. Douglas Bunch, and Genevieve Fontan, all of Cohen Milstein. More information about the settlement, including the settlement agreement, notice, and relevant court orders in this action, can be found at www.orthofixsecuritiessettlement.com.