SAN DIEGO, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) is investigating whether Bioventus Inc. ("Bioventus" or the "Company") (NASDAQ: BVS), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws.
What if I purchased Bioventus common stock? If you purchased Bioventus common stock and suffered significant losses on your investment, join our investigation now:
Click or paste the following web address into your browser to submit your losses:
https://www.johnsonfistel.com/investigations/bioventus-inc
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? On February 11, 2021, Bioventus conducted its initial public offering ("IPO"), selling 8 million shares priced at $13.00 per share.
Then, on November 16, 2022, Bioventus issued a press release announcing that it could not timely file its quarterly report for the period ended October 1, 2022 because it “requires additional time to complete a review . . . to assess whether a non-cash impairment charge is required for the third quarter of 2022”, which a preliminary review indicated to be “in the range of $185 million to $205 million.” Bioventus further stated that it “is seeking resolution related to the validity of a revised invoice” regarding “rebate claims [that it received] from a large private payer in relation to our Pain Treatments vertical, which likely will adversely affect the Company’s previously announced third quarter 2022 financial results.” As a result, Bioventus stated that “its internal controls related to the timely recognition of quarterly rebates were inadequate” and is “evaluating whether the Company will be able to meet all of its financial obligations as they come due within one year after the date its financial statements for the period ended October 1, 2022, are issued.” Since the IPO the stock has plummeted, on November 18, 2022, the stock closed trading at $1.90.
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com
