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WILLIAMS v. GLOBUS MEDICAL, INC.

No. 16-3607.

869 F.3d 235 (2017)

Austin J. WILLIAMS; Mark Silverstein, Individually and on behalf of all others similarly situated v. GLOBUS MEDICAL, INC.; David C. Paul; Richard A. Baron; David M. Demski; Steven M. Payne Austin J. Williams, Appellant.

United States Court of Appeals, Third Circuit.

Opinion Filed: August 23, 2017.

Attorney(s) appearing for the Case

Jacob A. Goldberg [ARGUED], Keith R. Lorenze , Rosen Law Firm, 101 Greenwood Avenue, Suite 440, Jenkintown, PA 19046, Robert V. Prongay , Jason L. Krajcer , Charles H. Linehan , Glancy Prongay & Murray, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, Counsel for Appellant.

Cheryl W. Foung , Wilson Sonsini Goodrich & Rosati, 650 Page Mill Road, Palo Alto, CA 94304, Barry M. Kaplan [ARGUED], Gregory L. Watts , Wilson Sonsini Goodrich & Rosati, 701 Fifth Avenue, Suite 5100, Seattle, WA 98104 Marc J. Sonnenfeld , Timothy D. Katsiff , Morgan Lewis & Bockius, 1701 Market Street, Philadelphia, PA 19103, Counsel for Appellees.

Before: CHAGARES, SCIRICA, and FISHER, Circuit Judges

OPINION OF THE COURT

In the spring of 2014, Globus Medical, Inc., a medical device company, terminated its relationship with one of its product distributors. Several months later, in August 2014, Globus executives alerted shareholders that sales growth had slowed, attributed this decline in part to the decision to...

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