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Faruqi & Faruqi, LLP Announces Investigation Of Abiomed Inc


Monday, 17 Dec 2012 04:34pm EST 

Faruqi & Faruqi, LLP announced that it is investigating potential securities fraud at ABIOMED, Inc. (Abiomed). The investigation focuses on whether the Company and its executives violated federal securities laws by misrepresenting and mislabeling Abiomed's Impella 2.5 heart pump. Abiomed announced on November 1, 2012 that the Washington, D.C. Attorney's Office was conducting an investigation focused on the marketing and labeling of the Company's Impella 2.5 product. On October 31, 2012, Abiomed accepted service of a Health Insurance Portability and Accountability Act administrative subpoena related to this investigation. The subpoena seeks documents related to the Impella 2.5 and focuses primarily on marketing and labeling issues. Abiomed's announcement follows a June 2011 warning letter from the United States Food and Drug Administration accusing the Company of making unsubstantiated and unauthorized efficacy claims about the Impella 2.5 system in its marketing materials. 

Company Quote

25.35
-0.08 -0.31%
19 Sep 2014