BUSINESS WIRE, 05 January 2021
On December 2, 2020, Culper Research issued a report entitled “OrthoPediatrics Corp. (KIDS): Even Channel Stuffing Can’t Save This Company,” alleging that the Company “engaged in a channel stuffing scheme that has systematically and significantly overstated revenues.” Citing interviews with distributors and former executives, the report alleged that “distributors have been induced to buy excess product directly from the Company in exchange for (a) equity-based awards, (b) the opportunity to return product, and/or (c) product discounts or increased commission schedules.” On this news, the Company’s stock price fell $4.12 per share, or 9%, to close at $41.02 per share on December 2, 2020, thereby injuring investors.
Continue reading “Article: Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of OrthoPediatrics Corp. (KIDS) on Behalf of Investors”
