Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Alphatec Holdings, Inc. to Inquire Ab
15 August 2010 - 7:32PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Southern District of California on behalf of
purchasers of the common stock of Alphatec Holdings, Inc. ("ATEC"
or the "Company") (NASDAQ: ATEC) during the period between December
18, 2009 and August 5, 2010, inclusive (the "Class Period").
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than October 12, 2010 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period. You are not required to have sold your
shares to seek damages or to serve as a Lead Plaintiff. You may
contact Brower Piven (through hoffman@browerpiven.com or
410/415-6616) to answer any questions you may have in that
regard.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company's failure,
contrary to statements of expected 2010 pro forma full-year revenue
of $220 million to $225 million and adjusted EBITDA of $32 million
to $35 million from the Company's acquisition of Scient'x, S.A.
("Scient'x") from HealthPointCapital Partners, L.P. and
HealthPointCapital Partners II, L.P. (the "Aggressive Projection")
reiterated on February 23, 2010, April 12, 2010 and May 10, 2010,
to disclose during the Class Period that pricing pressures were
steadily increasing; ATEC planned to dispose of its Asian
distributor without any realistic plan to replace the revenues the
distributor produced; Scient'x had exhibited almost no revenue
growth in the first nine months of 2009, and its ability to market
and sell in 2010 would be disrupted by any acquisition; and
integrating the two companies would be a long process, which would
negatively affect 2010 revenues. According to the complaint, after,
on August 5, 2010, the Company ATEC announced disappointing
quarterly results and an extreme revision of the Aggressive
Projection, the value of ATEC's stock declined significantly.
If you have suffered a net loss for all transactions in Alphatec
Holdings, Inc. common stock during the Class Period, you may obtain
additional information about this lawsuit and your ability to
become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 40 years. If you choose
to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your
choice. You need take no action at this time to be a member of the
class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Stevenson, Maryland 410/415-6616 Email Contact
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