March 22 Deadline Alert: Glancy Prongay & Murray LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Law...
March 17 2016 - 12:36PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the
upcoming March 22, 2016 deadline to file a lead plaintiff
motion in the class action filed on behalf of a class (the “Class”)
of investors who purchased HeartWare International, Inc.
(“HeartWare” or the “Company”) (NASDAQ: HTWR) securities between
June 10, 2014 and January 11, 2016, inclusive (the “Class
Period”). Long term HeartWare investors, who are holding their
HeartWare shares, are encouraged to contact GPM to discuss their
legal rights.
On September 9, 2015, the Company reported that it had “paused
its MVAD clinical trial to address an MVAD controller manufacturing
process issue.” Then on October 13, 2015, the Company reported
certain adverse events in clinical trials of the Company’s MVAD
products, and stated that the MVAD clinical trials may not be
re-initiated. Finally, on January 11, 2016 the Company disclosed
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. Following each of the
above disclosures the Company’s shares declined sharply in
value.
The complaint alleges that during the Class Period, HeartWare
and certain of its senior executives violated provisions of the
Exchange Act by making numerous false and misleading statements and
omissions of material fact, including in press releases and in
statements during conferences and conference calls with analysts
and investors. Specifically, the complaint alleges that after the
U.S. Food and Drug Administration ("FDA") issued a Warning Letter
identifying numerous manufacturing and other regulatory failures at
the Company's sole manufacturing facility, Defendants falsely
assured investors that the Company 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 presently
developing.
If you purchased shares of HeartWare during the Class Period you
may move the Court no later than March 22, 2016 to request
appointment as lead plaintiff, or if you have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire,
of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California
90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160317005939/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
Heartware International, Inc. (MM) (NASDAQ:HTWR)
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