Kirby McInerney LLP Announces Investigation of Shareholder Claims Against Globus Medical, Inc. (GMED)

Published 4 months ago via Business Wire

The law firm of Kirby McInerney LLP is investigating potential claims against Globus Medical, Inc. (“Globus Medical” or the “Company”) (NYSE: GMED). The investigation concerns whether Globus Medical and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.

[Click here to learn more about the investigation]

On August 13, 2024, in a filing with the U.S. Securities and Exchange Commission, Globus Medical disclosed that the U.S. Food and Drug Administration (FDA) had sent a warning letter on July 16, 2024 to the Company, following an inspection of its facilities in Audubon, Pennsylvania. In the warning letter, the FDA cited deficiencies in the response letters sent by the Company to the FDA following the Form 483, List of Investigational Observations, which was delivered to the Company in connection with the inspection that occurred from February 15, 2024 until March 7, 2024. The letter describes observed non-conformities in establishing and maintaining product complaint procedures, including complaint investigations, trending, risk reconciliation, and Medical Device Report (MDR) procedures including timely reporting, pertaining to the ExcelsiusGPS® robotic system.” On this news, the price of Globus Medical shares declined by $5.73 per share, from $73.05 per share on August 12, 2024 to close at $67.32 per share on August 13, 2024.

If you purchased or otherwise acquired Globus Medical securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.

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