WAYNE, Pa., Jan. 27, 2016
/PRNewswire/ -- Ryan & Maniskas, LLP that a class action
lawsuit has been filed in United States District Court for the
Southern District of New York on
behalf of all persons or entities that purchased HeartWare
International, Inc. ("HeartWare" or the "Company") (NASDAQ: HTWR)
securities between June 10, 2014 and
January 11, 2016, inclusive (the
"Class Period").
HeartWare shareholders may, no later than March 22, 2016, move the Court for appointment as
a lead plaintiff of the Class. If you purchased shares of
HeartWare and would like to learn more about these claims or if you
wish to discuss these matters and have any questions concerning
this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/htwr.
HeartWare is a medical device company that develops and
manufactures miniature heart pumps that are implanted into the
patient's body. It has been alleged that after the U.S. Food and
Drug Administration ("FDA") issued a Warning Letter to the Company
identifying numerous manufacturing and other regulatory failures at
the Company's sole manufacturing facility, various officers and
directors misled investors, in violation of their fiduciary duties,
when they assured investors that the Company was addressing
problems with HeartWare's manufacturing and other regulatory
failures. The officers and directors repeatedly told investors that
the items the FDA noted in its Warning Letter posed no risk to the
clinical trials or timely approval of its new MVAD pump.
On September 9, 2015, HeartWare
disclosed that it was halting enrollment in the MVAD trial because
of a manufacturing problem with the device. On October 12, 2015, HeartWare disclosed that
patients in the MVAD trial had suffered adverse events, and that
the trial would be further delayed. Finally, on January 11, 2016, the Company revealed that
problems with MVAD caused serious adverse events in nearly half of
the patients so far implanted with the device, and that the trial
would be delayed indefinitely.
In response to each of these disclosures, the price of
HeartWare's common stock declined significantly. In total,
HeartWare's common stock fell dramatically from its recent high to
close at $34 per share on
January 25, 2016.
If you are a member of the class, you may, no later than
March 22, 2016, request that the
Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be
appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the class.
Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your
counsel in this action.
For more information regarding this, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas,
Esquire) toll-free at (877) 316-3218 or by email at
rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/htwr.
For more information about class action cases in general or
to learn more about Ryan & Maniskas, LLP, please visit our
website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
CONTACT:
Ryan & Maniskas, LLP
Richard
A. Maniskas, Esquire
995 Old Eagle School
Rd., Suite 311
Wayne, PA
19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/htwr
rmaniskas@rmclasslaw.com
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SOURCE Ryan & Maniskas, LLP