Pomerantz LLP

Pomerantz LLP Appointed Lead Counsel in Ormat Technologies, Inc. Securities Litigation

On March 12, 2019 Pomerantz LLP was named Lead Counsel in Ormat Technologies

The investigation concerns whether OPKO and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

On May 18, 2018, OPKO announced the issuance of a draft local coverage determination ("LCD") for the Company's 4Kscore test for prostate cancer. OPKO advised investors that "[t]he draft LCD is a proposed non-coverage policy for the 4Kscore test for Medicare and, prior to its effectiveness, is subject to a public comment period ending July 5, 2018." Following this announcement, OPKO's share price fell $0.89, or 18.24%, to close at $3.99 on May 18, 2018.

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