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OPKO HEALTH, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey against OPKO Health, Inc.

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NEW YORK, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities fraud class action lawsuit has been filed in the United States District Court for the District of New Jersey against OPKO Health, Inc. (NASDAQ:OPK) ("OPKO") on behalf of purchasers of OPKO securities between September 26, 2013 and September 7, 2018, inclusive (the "Class Period").

Investors who have incurred losses in the shares of OPKO Health, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the shares of OPKO Health, Inc., you may, no later than November 13, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in OPKO Health, Inc.

The filed complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that:

  • defendant Frost and OPKO were engaged in a pump-and-dump scheme with several other individuals and companies in their investments in several penny stocks;

  • this illicit scheme would result in governmental scrutiny including from the SEC; and 

  • as a result, the 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 SEC issued a press release entitled "SEC Charges Microcap Fraudsters for Roles in Lucrative Market Manipulation Schemes," which included Frost and OPKO as defendants. The press release stated, in relevant part, "[a]ccording to the SEC's complaint, from 2013 to 2018, a group of prolific South Florida-based microcap fraudsters . . . manipulated the share price of the stock of three companies in classic pump-and-dump schemes. Miami biotech  billionaire Phillip Frost allegedly participated in two of these three schemes."

Following this news, shares of OPKO fell $1.01, or over 18%, before NASDAQ halted the trading of OPKO on September 7, 2018 at 2:34 p.m. EDT at $4.58 per share.

To date, OPKO remains halted and shareholders are unable to trade the shares.

Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

Attorney Advertising. Prior results do not guarantee or predict a similar outcome.

 

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