DEADLINE ALERT: Brower Piven Reminds Investors Who Have Losses in Excess of $100,000 From Investment in HeartWare Internatio...
March 17 2016 - 1:27PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of HeartWare
International, Inc. (Nasdaq:HTWR) (“HeartWare” or the “Company”)
common stock during the period between June 10, 2014 and January
11, 2016, inclusive (the “Class Period”). Investors with
losses in excess of $100,000 who wish to become proactively
involved in the litigation have until March 22, 2016 to seek
appointment as lead plaintiff.
If you have suffered a loss from investment in
HeartWare common stock purchased on or after June 10, 2014 and held
through the revelation of negative information during and/or at the
end of the Class Period, as described below, and would like to
learn more about this lawsuit and your ability to participate as a
lead plaintiff, without cost or obligation to you, please visit our
website at
http://www.browerpiven.com/currentsecuritiescases.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above
action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you
and the Class, you must apply to be appointed lead plaintiff and be
selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the
largest loss from investment in Company common stock during the
Class Period. Brower Piven also encourages anyone with
information regarding the Company’s conduct during the period in
question to contact the firm, including whistleblowers, former
employees, shareholders and others.
The complaint accuses the defendants of
violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period the
existence of manufacturing and other regulatory failures at the
Company’s sole manufacturing facility that remained unaddressed
despite having otherwise assured investors after the issuance of a
warning letter by the U.S. Food and Drug Administration (“FDA”)
identifying those problems.
According to the complaint, following the
September 1, 2015 Company announcement of a highly dilutive
acquisition of Valtech Cardio, Ltd. (a manufacturer of medical
devices used to treat heart disease), the September 9, 2015 Company
disclosure that it was halting enrollment in the MVAD trial because
of a manufacturing problem with the device, the October 12, 2015
Company disclosure that patients in the MVAD trial had suffered
adverse events and that the trial would be further delayed, and the
January 11, 2016 Company disclosure that problems with MVAD had
resulted in serious adverse events in nearly half of the patients
so far implanted with the device and that the trial would be
delayed indefinitely, the value of HeartWare shares declined
significantly.
Attorneys at Brower Piven have extensive
experience in litigating securities and other class action cases
and have been advocating for the rights of shareholders since the
1980s. If you choose to retain counsel, you may retain Brower
Piven without financial obligation or cost to you, or you may
retain other counsel of your choice. You need take no action
at this time to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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