INTEGRA DEADLINE ALERT

Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Integra LifeSciences Holdings Corp. and Encourages Investors to Contact the Firm - Seite 2

According to the complaint, the truth began to emerge on April 26, 2023, when the Company revealed that it had paused production at the Boston Facility. The Company also disclosed declining operating margins for the quarter and flat revenue growth projections, which the Company attributed to the manufacturing stoppage. As a result of these disclosures, the price of Integra common stock declined by $4.64 per share, or 8%. Later that same day, Integra further disclosed that the FDA had commenced another inspection at the Boston Facility and that the Company expected to receive another Notice of Inspectional Observations on Form 483 documenting good manufacturing practices failures as a result of that inspection. However, Defendants continued to reassure investors by downplaying the pause at the Boston Facility and reiterating their confidence in obtaining PMA for SurgiMend to be used in implant-based breast reconstruction.

Then, on May 23, 2023, the Company announced that it was recalling all products made at the Boston Facility between March 1, 2018 and May 22, 2023. Integra explained that it had determined that the Boston Facility deviated from good manufacturing practices in testing for bacterial endotoxin and allowed the release of products with higher levels of endotoxins. Accordingly, the Company implemented a “voluntary recall” and extended the pause on production in the Boston Facility. The recalled products included SurgiMend, PriMatrix, Revize, and TissueMend. As a result of the recall and manufacturing shutdown, the Company revised its guidance for the second quarter of 2023, lowering its revenue expectations by 6% and adjusted earnings per diluted share by 26%. The Company further disclosed that it expected to take a $22 million impairment charge in the second quarter due to the inventory write-off. These disclosures caused the price of Integra stock to decline by an additional $10.24 per share, or 20%.

If you purchased or otherwise acquired Integra shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at [e-mail], telephone at [phone], or by filling out this contact form. There is no cost or obligation to you.