Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against Integra LifeSciences Holdings Corp. (IART)

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Integra LifeSciences Holdings Corp. (“Integra” or the “Company”) (NASDAQ: IART). The investigation concerns whether Integra and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.

Integra operates as a holding company that, through its subsidiaries, provides solutions in orthopedic surgery, neurosurgery, and reconstructive and general surgery.

On May 23, 2023, Integra announced that it had conducted an internal investigation, leading to a global recall of all products produced at its Boston, Massachusetts facility. The affected products were distributed between March 1, 2018, and May 22, 2023. The company ceased manufacturing operations at the facility. The reason behind these actions was the company “identified deviations with endotoxin testing that may have resulted in the release of products with higher levels of endotoxins than permitted by the product specifications.” Integra disclosed that it anticipates a material impairment charge related to the write-off of inventories. As a consequence, the company revised its revenue and earnings per share guidance lower than previously stated. On this news, the price of Integra shares declined by $10.24 per share, or approximately 20.19%, from $50.72 per share to close at $40.48 on May 23, 2023.

If you purchased or otherwise acquired Integra securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at [e-mail], 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. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.

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