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Bioventus Inc. Investigation

We are investigating possible breaches of fiduciary duty and violations of the federal securities laws by, among others, the Board of Directors and senior officers of Bioventus Inc. (NASDAQ: BVS) (“Bioventus” or the “Company”) commencing with the Company’s initial public offering (“IPO”).

Bioventus conducted an Initial Public Offering (“IPO”) on February 11, 2021, of 8 million shares of its common stock at $13 per share, raising $104 million, without disclosing that significant liquidity issues plagued the Company, that it had insufficient internal and disclosure controls to properly account for drug rebates, chargebacks and discounts to pharmacy and health benefit managers, and –therefore– it could not ensure the accuracy of its operating results and financial condition. Almost two years later, in November 2022, the Company reported approximately $200 million in non-cash impairment charges, that its misaccounted rebate claims would negatively impact the Company’s previously announced financial results, and that the ongoing material weakness in its internal controls would result in the Company’s inability to meet its financial obligations and its inability to timely file its Quarterly Report for the third quarter of 2022. The Company’s stock has dropped more than 86% since its February 11, 2021 IPO.

Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients.  For more information about the firm, please go to: http://www.weisslaw.co

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March 2, 2021

Communications Systems, Inc. Investigation

We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Communications Systems, Inc. (“CSI” or the “Company”) (NASDAQ: JCS) in connection with the Company’s proposed merger with Pineapple Energy, LLC (“Pineapple”), a privately-held U.S. operator and consolidator of residential solar, battery storage, and grid services solutions. Under the terms of the merger agreement, CSI and Pineapple will combine through a reverse merger that will result in the combined company continuing to trade on the Nasdaq Capital Market under the new ticker symbol “PEGY.” In conjunction with the merger, CSI intends to divest substantially all its current operating and non-operating assets. CSI expects the sale proceeds from any pre-merger divestitures to be distributed in the form of a cash dividend to existing CSI shareholders prior to the effective date of the merger. In addition, CSI expects to distribute to the pre-merger shareholders a cash dividend of at least $1.00 per share prior to the closing of the merger. Moreover, under the terms of the merger agreement, (i) each CSI shareholder as of the merger record date, will receive Contingent Value Rights (“CVRs”) that reflect the right to receive that shareholder’s percentage of the net proceeds from the sale of legacy CSI businesses and assets, after the closing; and (ii) current CSI shareholders will retain shares in the combined company, initially holding approximately 37% of total shares outstanding.

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