HTWR INVESTORS ALERT: Lieff Cabraser Announces Securities Class Action Against HeartWare International, Inc.
February 01 2016 - 3:50PM
Business Wire
The law firm of Lieff Cabraser Heimann & Bernstein, LLP
announces that class action litigation has been brought on behalf
of investors who purchased or otherwise acquired the common stock
of HeartWare International, Inc. (“HeartWare” or the “Company”)
(Nasdaq: HTWR) between June 10, 2014 and January 11, 2016,
inclusive (the “Class Period”).
If you purchased HeartWare common stock during the Class Period,
you may move the Court for appointment as lead plaintiff by no
later than March 22, 2016. A lead plaintiff is a representative
party who acts on behalf of other class members in directing the
litigation. Your share of any recovery in the action will not be
affected by your decision of whether to seek appointment as lead
plaintiff. You may retain Lieff Cabraser, or other attorneys, as
your counsel in the action.
HeartWare investors who wish to learn more about the litigation
and how to seek appointment as lead plaintiff should click here or
contact Sharon M. Lee of Lieff Cabraser toll-free at
1-800-541-7358.
Background on the HeartWare Securities Class
Litigation
HeartWare International, Inc. is a medical device developer and
manufacturer specializing in small implantable heart pumps. The
action alleges that, throughout the Class Period, HeartWare and
certain of its senior executives falsely claimed to have addressed
numerous manufacturing and other regulatory failures identified in
a Warning Letter from the U.S. Food and Drug Administration
(“FDA”). HeartWare assured investors that it had addressed those
problems and that they therefore posed no risk to the clinical
trials or timely approval of MVAD, a pump that HeartWare is
developing.
On September 1, 2015 HeartWare disclosed the acquisition of
medical device manufacturer Valtech Cardio, Ltd. in which the
Company revealed major problems that would impede the advancement
of MVAD’s approval. On this news, HeartWare’s stock fell $16.99 per
share, or 20.77%, from its closing price on September 1, 2015 to
close at $64.82 on September 2, 2015.
On September 9, 2015 HeartWare announced that it was stopping
enrollment in the MVAD trial due to a manufacturing issue 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. On this news, HeartWare shares fell nearly 30%
per share from its closing price of $50.07 on October 9, 2015 to
close at $35.21 on October 13, 2015. On January 11, 2016, HeartWare
admitted that problems with MVAD had resulted in major problems in
nearly half the patients in the trial who had been implanted with
the device and that the trial would be suspended until further
notice. HeartWare shares dropped over 35%, from $40.84 on January
11, 2016, to close at $26.50 per share on January 12, 2016, on
exceptionally high trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San
Francisco, New York, and Nashville, and Seattle, is a nationally
recognized law firm committed to advancing the rights of investors
and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for thirteen years. In
compiling the list, the National Law Journal examines recent
verdicts and settlements and looked for firms “representing the
best qualities of the plaintiffs’ bar and that demonstrated unusual
dedication and creativity.” Best Lawyers and U.S. News have named
Lieff Cabraser as a “Law Firm of the Year” for each year the
publications have given this award to law firms.
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160201006266/en/
Source/Contact for Media Inquiries OnlyLieff Cabraser
Heimann & Bernstein, LLPSharon M. Lee, 1-800-541-7358
Heartware International, Inc. (MM) (NASDAQ:HTWR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Heartware International, Inc. (MM) (NASDAQ:HTWR)
Historical Stock Chart
From Apr 2023 to Apr 2024