Globus Medical Escapes Securities Class Action

Published: Aug 24, 2017

Globus Medical yesterday escaped a purported class-action lawsuit alleging that it misled investors about its plans to ditch one of its distributors and take those sales in house.

The lawsuit involves Vortex Spine, the exclusive Globus distributor for parts of Louisiana and Mississippi from 2004 until April 2014, according to court documents. The distribution deal was slated to expire in December 2013, but the companies inked a 4-month extension to cover early 2014.

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