Hagens Berman Reminds HeartWare International, Inc. (NASDAQ:HTWR) Investors of Lead Plaintiff Deadline
February 09 2016 - 8:30AM
Hagens Berman Sobol Shapiro LLP, a national investor-rights law
firm, reminds HeartWare International, Inc. (NASDAQ:HTWR) investors
of the March 22, 2016 lead plaintiff deadline in the class action
lawsuit related to the delay in approval of HeartWare’s next major
product, MVAD.
If you suffered losses because of your purchases of HeartWare
securities between June 10, 2014 and January 11, 2016, and held at
least 15,000 shares on January 11, 2016, or have information that
will help our continuing investigation contact Hagens Berman
Partner Reed Kathrein, who is leading the firm’s investigation by
calling 510-725-3000, emailing HTWR@hbsslaw.com or visiting
https://www.hbsslaw.com/cases/HTWR. The lawsuit was filed in
the U.S. District Court for the Southern District of New York and
investors have until March 22, 2016 to move the court to
participate as a lead plaintiff.
HeartWare is a medical device company that develops and
manufactures miniature heart pumps that are implanted into the
patient’s body. The Complaint alleges Defendants misled
investors, in violation of the securities laws, when assured
investors that the Company was addressing problems with HeartWare’s
manufacturing and other regulatory failures. Defendants
repeatedly told investors that the items the FDA noted in its
Warning Letter posed no risk to the clinical trials or timely
approval of the MVAD pump.
The truth concerning the Company's failure address the problems
pointed out by the FDA and the impact on the MVAD release came to
light over several disclosures last fall. First, on September 1,
2015, HeartWare announced a highly dilutive acquisition of Valtech
Cardio, Ltd., a manufacturer of medical devices used to treat heart
disease which in turn revealed significant obstacles to the timely
approval of MVAD.
Then, on September 9, 2015, HeartWare disclosed that it was
halting enrollment in the MVAD trial because of a manufacturing
problem with the device. On October 12, 2015, HeartWare disclosed
that patients in the MVAD trial had suffered adverse events, and
that the trial would be further delayed.
Finally, on January 11, 2016, the Company revealed that problems
with MVAD caused serious adverse events in nearly half of the
patients so far implanted with the device, and that the trial would
be delayed indefinitely. In response to each of these disclosures,
the price of HeartWare's common stock declined significantly. In
total, HeartWare's common stock fell 72% from its Class Period high
to close at $26.50 per share on January 12, 2016. The share price
has not recovered and is trading under $35 per share.
Whistleblowers: Persons with non-public
information regarding HeartWare should consider their options to
help in the investigation or take advantage of the SEC
Whistleblower program. Under the new SEC whistleblower program,
whistleblowers who provide original information may receive rewards
totaling up to 30 percent of any successful recovery made by the
SEC. For more information, call Reed Kathrein at (510) 725-3000 or
email HTWR@hbsslaw.com.
About Hagens Berman Hagens Berman is headquartered in Seattle,
Washington with offices in 10 cities. The Firm represents
investors, whistleblowers, workers and consumers in complex
litigation. More about the Firm and its successes can be found at
www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit
the blog. For the latest news visit our newsroom or follow us on
Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
Heartware International, Inc. (MM) (NASDAQ:HTWR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Heartware International, Inc. (MM) (NASDAQ:HTWR)
Historical Stock Chart
From Apr 2023 to Apr 2024