Opko Health Inc. (NASDAQ:OPK) is under investigation by Purcell Julie & Lefkowitz, LLP. The class action litigation firm alleges that the company is in breach of fiduciary duty which surprisingly enough is involving the Company’s Board of Directors. However, it is not clear how legit the claims are given that the company is not in any notification regarding any form of investigation. It seems not also to be aware of claims against any of its Board of Directors. Shareholders, other law firms and regulatory bodies are all quite, and none of them has made such claims or allegations. So, the question is who or which regulatory body is in support of the law firm’s claims?
Let’s explore OPKO Health, Inc and its response to the allegations
It is one of the many health companies that are seeking to establish themselves in the market. As it would be expected of any new venture, it is not being swayed away by competition. In fact, it is eyeing the leading position within the large and rapidly growing markets. In response to the law firm’s allegations, OPKO is of the opinion that the investigations do not have any basis of merit. Hence it has vowed to defend itself vigorously should the firm make it formal its claims.
The company’s business is more of diagnostics which include Bio-Reference Laboratories. Apart from being the nation’s third-largest clinical laboratory that hosts the central part of the genetic testing business it also hosts a 420-person sales force which is responsible for driving the company’s growth. The workforce is also capable of introducing and sustaining new products the likes of 4Kscore prostate cancer test and the Claros 1 in-office immunoassay platform.
The company has a global production and distribution of assets as well as multiple strategic investments. It is actively involved in business development strategies whose intention is to enhance its operations. The company is also into the business of biologics the likes of hGH-CTP as well as a long-acting Factor VIIa drug for hemophilia. Its RAYALDEE which features within the pharmaceutical business has the FDA’s for use in treating SHPT in stage 3-4 CKD patients that have vitamin D insufficiency.
HERITAGE PRINTING NPV (OTCMKTS:HAGE) Continues To Attract Interest
HERITAGE PRINTING NPV (OTCMKTS:HAGE) is continuing to gain ground, as it recorded another gain of 5.43%, in its share value, during the August 25 trading session. The current week saw the stock experience above average trade volumes, as HAGE added approximately $0.1 to its share value. The surprising part about this is that the company has not made any press releases or filings, to improve investor interest in the stock.
The last update from the company was the filing of its 2Q2016 financial report, which had been disappointing. There were several red flags indicated in the report. These included a cash position of $0, no revenues till date and a net loss that grew four times, as compared to the last year. Moreover, HAGE also had issued a promissory note of $10,000, to Horizon Management Corp. The amount had been borrowed to fund general operations. The company also highlighted that it plans to fund future operations by obtaining capital from management and significant shareholders.