April 28, 2014 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Wright Medical Group Inc (NASDAQ:WMGI) concerning whether certain Wright Medical Group officers and directors possibly breached their fiduciary duties in connection with certain statements was announced.
The investigation by a law firm concerns whether certain Wright Medical Group officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Wright Medical Group Inc reported that its annual Total Revenue rose from $214.10 million in 2012 to $242.33 million in 2013 while its Net Income of $5.28 million in 2012 declined to a Net Loss of $273.94 million in 2013. Shares of Wright Medical Group Inc (NASDAQ:WMGI) grew from $16.54 per share in early 2012 to as high as $33.80 per share in February 2014.
On April 28, 2014, NASDAQ:WMGI shares closed at $27.68 per share.