NEW YORK, Aug. 7, 2019 /PRNewswire/ -- Bernstein
Liebhard LLP, a nationally acclaimed investor rights law firm,
announces that a securities class action lawsuit has been filed on
behalf of shareholders of Abiomed, Inc. ("Abiomed" or the
"Company") (NASDAQ: ABMD) between January
31, 2019, and July 31, 2019,
inclusive (the "Class Period"). The lawsuit filed in the United States District Court for the
Southern District of New York
seeks to recover damages for Abiomed investors under the
Securities Exchange Act of 1934.
If you wish to serve as lead plaintiff, you must move the Court
no later than October 7, 2019. A lead
plaintiff is a representative party acting on behalf of other class
members in directing the litigation. Your ability to share in any
recovery doesn't require that you serve as lead plaintiff. If you
choose to take no action, you may remain an absent class
member.
If you purchased Abiomed Inc. securities, and/or would like
to discuss your legal rights and options please visit ABMD
Shareholder Investigation or contact Matthew E. Guarnero toll free at (877)
779-1414 or MGuarnero@bernlieb.com.
The complaint alleges that throughout the Class Period,
Defendants made materially false and misleading statements
regarding the Company's business, operational and compliance
policies. Specifically, Defendants made false and/or misleading
statements and/or failed to disclose that: (i) Abiomed's revenue
growth was in decline; (ii) the Company did not have a sufficient
plan in place to stem its declining revenue growth; (iii) the
Company was unlikely to restore its revenue growth over the next
several fiscal quarters; (iv) consequently, Abiomed was reasonably
likely to revise its full-year 2020 guidance in a way that would
fall short of the Company's prior projections and market
expectations; and (v) as a result, the Company's public statements
were materially false and misleading at all relevant times.
On August 1, 2019, the Company
slashed its previously issued full-year 2020 guidance from total
revenues in the range of $900-945
million to total revenues in the range of $885-925 million, which fell roughly $22 million short of market expectations. On this
news, Abiomed's stock price fell $73.69 per share, or 26.45%, to close at
$204.87 per share on August 1, 2019.
If you purchased ABMD securities, and/or would like to
discuss your legal rights and options please visit
https://www.bernlieb.com/cases/abiomedinc-abmd-shareholder-class-action-lawsuit-stock-fraud-164/apply/ or
contact Matthew E. Guarnero toll
free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and listed in The
Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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SOURCE Bernstein Liebhard LLP