WASHINGTON, D.C. October 4, 2018 – Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether OPKO Health, Inc. (“OPKO Health” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Class action lawsuits have been filed in the U.S. District Courts for the District of New Jersey, the Southern District of New York, and the Southern District of Florida by other law firms on behalf of purchasers of the common stock of OPKO Health, Inc. (NASDAQ: OPK) between September 26, 2013 and September 7, 2018, inclusive (the “Class Period”).
The complaints alleges that OPKO Health and certain of its officers and directors (“Defendants”) misrepresented and/or failed to disclose that: (1) Phillip Frost, OPKO CEO, and OPKO Health were engaged in a pump-and-dump scheme with several other individuals and companies in their investments in several penny stocks; (2) Frost and OPKO Health acquired ownership interest in Biozone Pharmaceuticals, Inc. (“Biozone”) and MabVax Therapeutics Holdings, Inc. (“MabVax”) to advance Frost’s own pecuniary interest at the expense of the OPKO Health shareholders; (3) Frost’s conduct exposed OPKO Health to reputational risk that could materially harm the Company’s business opportunities and its negotiations with acquisition targets, investment targets, and potential joint venture partners; (4) the illicit scheme would result in governmental scrutiny including from the SEC; and (5) as a result, Defendants’ statements about OPKO’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On September 7, 2018, the last day of the Class Period, the SEC filed a complaint in the Southern District of New York against Frost, OPKO Health and numerous other defendants alleging three pump-and-dump schemes from 2013 through 2018 in the stock of three unidentified companies. The price of OPKO Health shares fell from $5.50 on September 6, 2018 to $4.58 on September 7, 2018.
Cohen Milstein encourages all investors who purchased OPKO Health common stock between September 26, 2013 and September 7, 2018, or former employees with information concerning this matter to contact the firm.
If you are an OPKO Health shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at firstname.lastname@example.org. If you wish to serve as lead plaintiff, you must move the Court no later than November 13, 2018 to request appointment. Any member of the proposed class may retain Cohen Milstein or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.
Cohen Milstein has significant experience in prosecuting investor class actions and actions involving securities fraud, and is active in major litigation pending in federal and state courts throughout the nation. Cohen Milstein has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total billions of dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.
If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
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