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 firstname.lastname@example.org 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.