Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Alphatec Holdings, Inc.
14 August 2010 - 3:00AM
Business Wire
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/atec)
announces that a class action lawsuit has been filed in the United
States District Court for the Southern District of California on
behalf of purchasers of the securities of Alphatec Holdings, Inc.
(NASDAQ:ATEC) ("Alphatec" or the "Company"), who purchased or
otherwise acquired Alphatec securities between December 18, 2009
and August 5, 2010, inclusive (the "Class Period").
For more information regarding this class action suit, please
contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire)
toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com
or visit: www.rmclasslaw.com/cases/atec.
The complaint, seeking to pursue remedies under the Securities
Exchange Act of 1934, alleges that Alphatec issued false and
misleading statements regarding the Company's true business
prospects and financial results. The complaint alleges that
Alphatec overstated the positive impact its acquisition of
Scient’x, S.A. would have on its earnings and revenue.
Specifically, it is alleged that the Company was motivated to
artificially inflate its stock price in order to obtain a higher
price in a secondary stock offering that closed on April 21, 2010.
On August 5, 2010, the Company dramatically lowered its projected
financial results. On this news, shares of Alphatec shares dropped
46%, to close at $2.39 per share.
If you are a member of the class, you may, no later than October
12, 2010, request that the Court appoint you as lead plaintiff of
the class. A lead plaintiff is a representative party that acts on
behalf of other class members in directing the litigation. In order
to be appointed lead plaintiff, the Court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in any
recovery is not, however, affected by the decision whether or not
to serve as a lead plaintiff. You may retain Ryan & Maniskas,
LLP or other counsel of your choice, to serve as your counsel in
this action.
For more information about the case or to participate online,
please visit: www.rmclasslaw.com/cases/atec, or contact Richard A.
Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at
rmaniskas@rmclasslaw.com. For more information about class action
cases in general or to learn more about Ryan & Maniskas, LLP,
please visit our website: www.rmclasslaw.com.
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