Press release from Business Wire
Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Edwards Lifesciences Corporation
Wednesday, September 25, 2013
Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Edwards Lifesciences Corporation19:32 EDT Wednesday, September 25, 2013
BENSALEM, Pa. (Business Wire) -- Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of purchasers of the common stock of Edwards Lifesciences Corporation (“Edwards Lifesciences” or the “Company”) (NYSE:EW) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by the Company between April 25, 2012 and April 23, 2013.
Edwards Lifesciences is a medical device maker that designs and markets artificial heart valves, among other things, including valves that require traditional open-chest surgery and a newer “SAPIEN” line of transcatheter heart valves that may be implanted using a minimally invasive procedure.
The investigation is related to allegations that the Company issued false and/or misleading statements and failed to disclose material facts related to the prospects, projected sales and adoption of the Company's Edwards SAPIEN transcatheter aortic heart valve, including allegations that adoption of SAPIEN was weaker than the Company claimed, due to concerns among physicians over the risks and complexity of the procedure for implanting the valve.
On April 23, 2013, the Company disclosed that approximately 20 candidate hospitals had postponed SAPIEN training, that there was substantially no backlog of patients awaiting SAPIEN implants, and that the Company's financial results had been and would likely continue to be weaker than estimates. Following this news, Edwards Lifesciences' stock price fell nearly 22% on April 24, 2013, on extremely heavy trading volume.
If you purchased Edwards Lifesciences shares, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire