SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces a Securities Fraud Class Action Lawsuit Has Been Filed Against HeartWare ...
February 12 2016 - 4:47PM
Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of HeartWare
International, Inc. (NASDAQ:HTWR)?
- Did you purchase your shares between June 10, 2014 and
January 11, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a
complaint has been filed in the United States District Court for
the Southern District of New York on behalf of all persons or
entities that purchased the common stock of HeartWare
International, Inc. (“HeartWare” or the “Company”) (NASDAQ:HTWR)
between June 10, 2014 and January 11, 2016, inclusive (the “Class
Period”), alleging violations of the Securities Exchange Act of
1934 against the Company and certain of its officers (the
“Complaint”).
If you purchased shares of HeartWare during the
Class Period, or purchased shares prior to the Class Period and
still hold HeartWare, and wish to discuss this action or have any
questions concerning this notice or your rights or interests,
please contact Timothy J. MacFall, Esquire or Peter Allocco of
Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120,
Wilmington, DE 19803 at (888) 969-4242; by e-mail to
info@rl-legal.com; or at:
http://rigrodskylong.com/investigations/heartware-international-inc-htwr.
The Complaint alleges that throughout the Class Period, defendants
made materially false and misleading statements, and omitted
materially adverse facts, about the Company’s business, operations
and prospects. As a result of defendants’ alleged false and
misleading statements, the Company’s stock traded at artificially
inflated prices during the Class Period.
According to the Complaint, on January 11, 2016,
HeartWare confirmed that nearly half of all patients in the MVAD
trial had suffered “serious adverse events” as a result of software
issues with MVAD, including significant blood clotting problems.
As a result, HeartWare admitted that there would be
indefinite delays for the MVAD trial, and that a redesign of MVAD
requiring an entirely new MVAD trial may be required. If a redesign
is required, a new trial would not start for a minimum of 18 months
– i.e., mid-2017 at the earliest.
On this news, shares of HeartWare dropped over
35%, closing at $26.50 per share on January 12, 2016, on heavy
trading volume.
If you wish to serve as lead plaintiff, you must
move the Court no later than March 22, 2016.
A lead plaintiff is a representative party acting on behalf of
other class members in directing the litigation. Any member
of the proposed class may move the court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member.
Attorney advertising. Prior results do not guarantee a
similar outcome.
CONTACT:
Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Peter Allocco
(888) 969-4242
(516) 683-3516
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com
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