Kaplan Fox Files Class Action to Recover Losses for Investors Who Purchased OPKO Health, Inc. Common Stock

NEW YORK, Sept. 17, 2018 /PRNewswire/ --Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has filed a class action suit in the United States District Court for the Southern District of New York against OPKO Health, Inc. ("OPKO" or the "Company") (Nasdaq: OPK), and its CEO and Chairman, Phillip Frost ("Frost").

The complaint alleges that OPKO and Frost violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder by the SEC, and is brought by plaintiff on behalf of all persons and entities who purchased the common stock of Opko between September 26, 2013 and September 7, 2018, inclusive (the "Class Period").

The complaint further alleges that, throughout the Class Period, OPKO's SEC filings represented that part of its growth strategy stemmed from pursuing "complementary, accretive, or strategic acquisitions and investments" and that the Company has and may continue to "make investments in early stage companies that we perceive to have valuable proprietary technology and significant potential to create value for OPKO as a shareholder."  The complaint alleges that "OPKO further represented that its management team, including its CEO and Chairman, Defendant Phillip Frost . . . 'has significant experience in identifying, executing and integrating these transactions. We expect to use well-timed, carefully selected acquisitions, licenses and investments to continue to drive our growth.'" 

The Complaint further alleges that on September 7, 2018, investors began to learn the truth when the SEC issued a Litigation Release titled "SEC charges Microcap Fraudsters for Roles in Lucrative Market Manipulation Scheme" and disclosed the filing of an action by the SEC's New York Regional Office against Defendants and others for perpetrating an illegal "pump-and-dump" scheme between 2013 and 2018.  On this news, OPKO shares declined from a closing price on September 6, 2018 of $5.59 per share, to $4.58 per share, a decline of approximately 18% on heavier than usual volume. 

At or around 2:34 p.m. on September 7, 2018, trading in OPKO was halted at $4.58 per share by Nasdaq.  On September 14, 2018, trading in OPKO shares resumed, and OPKO shares further declined.  At the close of trading on September 14, 2018, OPKO shares declined from $4.58 per share at the time Nasdaq halted trading on September 7, 2018, to close at $3.90 per share, a decline of $0.68 per share, or approximately 15% on heavier than usual volume.  Between the close of trading on September 6, 2018 and the close of trading September 14, 2018, OPKO shares declined from $5.59 per share to close at $3.90 per share, a decline of $1.69 per share, or approximately 30%, on heavier than usual volume.

If you are a member of the proposed Class, you may move the court no later than NOVEMBER 13, 2018 to serve as a lead plaintiff for the proposed Class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.

Plaintiff seeks to recover damages on behalf of the proposed Class and is represented by Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com).  Our firm, with offices in New York, San Francisco, Los Angeles, Chicago, and New Jersey, has decades of experience in prosecuting investor class actions and actions involving violations of the Federal securities laws.

If you have any questions about this Notice, the action, your rights, or your interests, please e-mail attorneys Jeff Campisi ([email protected]), or Larry King ([email protected]), or contact them by phone, regular mail, or fax:

SOURCE Kaplan Fox & Kilsheimer LLP

Related Links

http://www.kaplanfox.com

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