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 NuVasive, Inc. (“NuVasive” or the “Company”) (NasdaqGS: NUVA) securities during the period between October 22, 2008 and July 30, 2013, inclusive (the “Class Period”).
If you have suffered a net loss from investment in NuVasive, Inc. securities purchased on or after October 22, 2008, and held through the revelation of negative information on July 30, 2013, as described below, at no cost to you, 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 firstname.lastname@example.org, 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 60 years.
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 28, 2013 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 Company stock during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company submitted false claims to Medicare and Medicaid in violation of federal and state laws and regulations. According to the complaint, following the Company’s July 30, 2013 disclosure that it had received a subpoena from the Office of the Inspector General of the U.S. Department of Health and Human Services in connection with an investigation into possible false or otherwise improper claims submitted to Medicare and Medicaid, and that the subpoena sought discovery of documents for the period January 2007 through April 2013, the value of NuVasive shares declined significantly.