Federman & Sherwood Investigates Osiris Therapeutics, Inc.
For Possible Violations of Federal Securities Laws
Oklahoma City, OK (November 18, 2015) – The law firm of Federman & Sherwood has initiated an investigation into Osiris Therapeutics, Inc. [NASDAQ: OSIR] with respect to possible violations of federal securities laws.
The investigation concerns whether the Company violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, on November 16, 2015, Osiris filed its 10-Q Quarterly Report, disclosing multiple restatements in prior financial results, including three restatements made related to distributor relationships. As a result of these adjustments, Osiris missed revenue targets in three of the last four quarters. Following this news, shares of Osiris were down 19.56% on intraday trading on November 17, 2015.
The investigation will focus on the Company’s announcement that it has determined to correct the revenue recognition for three contracts which will result in a decrease in product revenues of $1.8 million in the first quarter of 2015, a decrease in product revenue of $1.0 million in the second quarter, an increase in product revenues of $0.8 million in the third quarter of 2015 and a decrease in product revenues of $1.1 million in 2014.
If you currently own common stock in Osiris, have any information to assist in our investigation, or have questions or concerns regarding this notice or your rights or interests in this matter, please click here to download and complete our Certification of Investment or you may contact William B. Federman with any questions you may have regarding this investigation. Federman & Sherwood has extensive nationwide experience in representing investors in securities, derivative and merger-related shareholder class actions, and has been appointed as lead counsel in multiple complex cases across the country.
Posted on Wed, November 18, 2015
by Robin Hester filed under