Rigrodsky & Long, P.A. Announces Securities Fraud Class Action Lawsuit Has Been Filed Against Abiomed Inc

Rigrodsky & Long, P.A. announced that a complaint has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities that purchased the securities of Abiomed Inc between August 5, 2011 and October 31, 2012, inclusive, (the Class Period), alleging violations of the Securities Exchange Act of 1934 against the Company, certain of its officers and directors (the Complaint). Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business operations, financial condition and prospects. Specifically, the Complaint alleges that the defendants failed to resolve issues stemming from the Company’s promotional and marketing materials for its Impella 2.5 Cardiac Support System (“Impella 2.5”). As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period. According to the Complaint, Abiomed received letters from the United States Food and Drug Administration (“FDA”) in 2010, 2011 and 2012 informing them that the Company was marketing the Impella 2.5 in ways that were not compliant with FDA regulations. While the Company did not disclose the 2010 letter to investors, it misled investors regarding the 2011 and 2012 letters by stating that the Company was cooperating with the FDA to address those issues.