Press release from Business Wire
Law Offices of Todd M. Garber Announces Investigation of Edwards Lifesciences Corporation
Friday, September 27, 2013
Law Offices of Todd M. Garber Announces Investigation of Edwards Lifesciences Corporation23:32 EDT Friday, September 27, 2013
LOS ANGELES (Business Wire) -- The Law Offices of Todd M. Garber announces that it is investigating potential claims on behalf of investors 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, among other things, artificial heart valves for implantation in patients with advanced cardiovascular disease. The Company offers a range of such valves, including both valves that require traditional open-chest surgery, and its newer SAPIEN line of transcatheter heart valves (“THVs”), which 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 the related transfemoral and transapical delivery methods (“SAPIEN”), and related projections of financial performance for the Company's operations.
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. In response to this news, Edwards Lifesciences' stock price fell $18.21 per share, or 21.99 percent, to close at $64.60 per share on April 24, 2013 on extremely heavy trading volume.
If you purchased Edwards Lifesciences common stock during the foregoing period, if you have information or would like to learn more, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to email@example.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Todd M. Garber, Attorney at Law
Los Angeles, California