SAN DIEGO and MINNEAPOLIS,
Nov. 20, 2014 /PRNewswire/ --
Shareholder rights law firm Robbins Arroyo LLP is investigating
whether certain officers and directors of Vascular Solutions, Inc.
(NASDAQ: VASC) breached their fiduciary duties to
shareholders. Vascular Solutions is a medical device company
that provides various solutions to interventional cardiologists,
interventional radiologists, electro physiologists, and vein
practices worldwide.
View this press release on the law firm's Shareholder Rights
Blog:
http://www.robbinsarroyo.com/shareholders-rights-blog/vascular-solutions-inc
Vascular Solutions Indicted for Conspiring to Defraud the
United States
On November 13, 2014, a federal
grand jury in the Western District of Texas returned an indictment against Vascular
Solutions and the company's Chief Executive Officer, Howard Root. According to an announcement
by the U.S. Department of Justice, Vascular Solutions and Mr. Root
were each charged with selling medical devices without U.S. Food
and Drug Administration ("FDA") approval and conspiring to defraud
the United States through the
concealment of the illegal sales activity. Specifically, the
indictment alleges that the company maintained a deceptive sales
campaign for its Vari-Lase product line, which had received FDA
approval for the treatment of superficial veins. Rather than
limit its sales to the treatment of superficial veins, Vascular
Solutions sold the products for the much riskier treatment of
ablating "perforator" veins. On this news, shares of Vascular
Solutions stock fell over 22%, to close at $23.74 on November 14,
2014.
Vascular Solutions Shareholders Have Legal
Options
Concerned shareholders who would like more information about
their rights and potential remedies can contact attorney
Darnell R. Donahue at (800)
350-6003, DDonahue@robbinsarroyo.com, or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits, and has helped its clients realize more than
$1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a
similar outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, Ca 92101
DDonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP