OPKO Responds to Nasdaq Halt of Trading of Common Shares

September 11, 2018

OPKO Health, Inc. (NASDAQ:OPK) has had trading in its common stock halted by The Nasdaq Stock Market, and the exchange has advised OPKO that the halt will continue until the company responds (to Nasdaq’s satisfaction) to the exchange’s request for information related to the previously reported lawsuit filed by the U.S. Securities and Exchange Commission against a number of individuals and entities, including OPKO and its CEO and Chairman Phillip Frost. As noted previously, the lawsuit does not contain any allegations about OPKO’s financial practices, financial statements or business practices, and OPKO is confident that once a proper investigation is completed and the facts of the case have been fully disclosed, the matter will be resolved favorably for the company. OPKO is working expeditiously to respond to Nasdaq’s request for information, but it cannot currently estimate when trading will resume.

The SEC alleges https://www.sec.gov/news/press-release/2018-182 that 10 individuals along with 10 entities associated with these individuals manipulated the share prices of three companies in what are commonly known as “pump and dump” schemes. OPKO Phillip Frost was accused of participating in two cases of fraud.

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