|3 Months Ended|
Mar. 31, 2021
|Subsequent Events [Abstract]|
|SUBSEQUENT EVENTS||SUBSEQUENT EVENTS
On April 28, 2021, an Order Granting Final Approval of Class Action Settlement and Order of Dismissal with Prejudice was entered in the United States District Court for the Southern District of Florida, Miami Division (“Order”), approving the settlement of the previously disclosed class action lawsuit (“Class Action Suit”) involving several individuals, including the Company and its CEO and Chairman, Dr. Phillip Frost, stemming from the allegations in the September 7, 2018 complaint filed by the Securities and Exchange Commission which was subsequently settled, as previously disclosed in the Annual Report. The Order provides for, among other things, the settlement and release of the class action claims against the Company and Dr. Frost, for $16.5 million, a significant portion of which has been covered by our insurance carriers.
We have reviewed all subsequent events and transactions that occurred after the date of our March 31, 2021 Condensed Consolidated Balance Sheet, through the time of filing this Quarterly Report on Form 10-Q.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef