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Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Abiomed Inc

Saturday, 22 Dec 2012 05:00pm EST 

The Law Offices of Todd M. Garber announced that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of a class comprising all persons or entities who purchased the securities of Abiomed Inc between August 5, 2011 and October 31, 2012, inclusive (the Class Period). Abiomed is a provider of medical devices for circulatory support and offers a continuum of care in heart recovery for acute heart failure patients. The Company`s Impella 2.5 catheter is a percutaneous micro heart pump with an integrated motor and sensors, designed primarily for use by interventional cardiologists to support patients in the cardiac catheterization lab who may require assistance to maintain their circulation. The Complaint alleges that throughout the Class Period the defendants made materially false and misleading statements regarding the Company`s business, operations and financial prospects. Specifically, defendants misrepresented and/or failed to disclose that: (1) the Company was improperly marketing and/or labeling its Impella 2.5 system; (2) Abiomed`s financial results would be materially impacted if the Company were either forced to stop or discontinued its improper conduct; (3) the Company lacked adequate internal and financial controls; and (4) as a result of the foregoing, the Company`s statements were materially false and misleading at all relevant times. 

Company Quote

-0.46 -1.83%
15 Sep 2014