J.P. Morgan Comments On Wright Medical Group Investigation

According to J.P. Morgan, Wright Medical Group (NASDAQ: WMGI) announced Wednesday that it has concluded an internal investigation, finding “credible evidence of serious wrongdoing.”

J.P. Morgan said that the company issued a written report to both the U.S. Attorney's Office (USAO) and the U.S. Office of the Inspector General (OIG). “The notice was also sent to Wright's independent monitor, which has been investigating the company's selling and compliance practices as part of the 12-month deferred prosecution agreement (DPA) signed in September 2010.”

Wright Medical Group closed yesterday at $16.33.