NEW YORK, Oct. 14, 2015 /PRNewswire/ -- Levi &
Korsinsky announces it has commenced an investigation of
Cardiovascular Systems Inc. ("Cardiovascular Systems" or the
"Company") (NASDAQ: CSII) concerning possible violations of federal
securities laws by certain officers and directors.
On May 8, 2014, Cardiovascular
Systems received a letter from the U.S. Attorney's Office for the
Western District of North Carolina
stating that Cardiovascular Systems is being investigated for
possible violations of the False Claims Act. On July 8, 2015, Cardiovascular Systems further
revealed that a whistleblower lawsuit filed in 2013 had been
unsealed alleging that Cardiovascular Systems engaged in a
fraudulent marketing scheme to maximize profits through illegal
kickbacks, off-label promotion, and violations of federal laws and
regulations. On October 7, 2015,
Cardiovascular Systems disclosed during aftermarket hours that it
expects revenue from its fiscal first quarter to be approximately
$43.9 million, well below its
previously issued guidance of $48.5 million
to $50.0 million. On this news, shares of Cardiovascular
Systems fell more than 18% to close at $13.62 per share, damaging investors. To obtain
additional information about the investigation, go to:
http://zlk.9nl.com/cardiovascular-systems-csii
or contact Joseph E. Levi, Esq.
either via email at jlevi@zlk.com or by telephone at (212)
363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP