Opko Health, Inc. (OPK) Charged by the Securities and Exchange Commission (SEC) in Fraudulent Stock Scheme
According to the recently filed class action complaint, OPKO Health, Inc. (OPK) repeatedly assured investors regarding the accuracy of its financial reporting, the disclosure of any material changes to the company’s internal control over financial reporting and the disclosure of all fraud. It therefore came as a surprise, when, on September 7, 2018, the Securities and Exchange Commission charged 10 individuals, including OPKO Chief Executive Officer and Chairman Phillip Frost, and 10 associated entities, including OPKO, for participating in long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm to retail investors who were left holding virtually worthless stock. On this news, shares of OPKO fell over 18% before NASDAQ halted trading, making the company’s stock virtually worthless.
OPKO Shareholders Have Legal Options
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