Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders of Orpea SA (ORPEF) Investigation

NEW YORK--(BUSINESS WIRE)--Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Orpea SA (“Orpea” or the “Company”) (OTCMKTS: ORPEF). Investors who purchased Orpea securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/orpef.

The investigation concerns whether Orpea has violated federal securities laws.

On January 24, 2022, French newspaper Le Monde published an article featuring extracts of a book entitled The Gravediggers, which detailed mistreatment of elderly residents at Orpea’s nursing homes. Specifically, the book included allegations that residents were not provided enough mails, that facilities lacked proper hygiene standards, and that residents were discriminated against based on social class. The book also accused Orpea’s top managers of cutting costs and putting profits ahead of patient welfare. On this news, Orpea’s stock price fell $56.06 per share, or 46.37%, to close at $64.82 per share on January 25, 2022. On February 1, 2022, Orpea announced that it had hired accounting firms Grant Thornton and Alvarez & Marsal to carry out independent examinations of the allegations made in The Gravediggers. Then, on February 3, 2022, multiple news outlets reported that the investigative French TV show Cash Investigation had been exploring the French nursing home industry for more than a year and was promising to report “new revelations” on nursing-home operators. On this news, Orpea’s stock price fell $6.56 per share, or 14.32%, to close at $39.25 per share on February 4, 2022. Finally, on April 26, 2022, Orpea published preliminary findings of the independent investigations conducted by Grant Thornton and Alvarez & Marsal. Among other things, the two account confirms confirmed that Orpea’s budget process and management regularly resulted in its establishments being understaffed. On this news, Orpea’s stock price fell $3.40 per share, or 9.17%, to close at $33.67 per share on April 26, 2022.

If you are aware of any facts relating to this investigation or purchased Orpea shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/orpef. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.