Press release from Business Wire
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Edwards Lifesciences Corporation
Friday, October 04, 2013
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Edwards Lifesciences Corporation21:32 EDT Friday, October 04, 2013
BENSALEM, Pa. (Business Wire) -- Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising all purchasers of the common stock of Edwards Lifesciences Corporation (“Edwards Lifesciences” or the “Company”) (NYSE:EW) between April 25, 2012 and April 23, 2013, inclusive (the “Class Period”).
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's SAPIEN line of transcatheter heart valves may be implanted using a minimally invasive procedure.
The Complaint alleges 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. Specifically, the Complaint alleges that the defendants knew but concealed from Edwards Lifesciences' shareholders during the Class Period 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.
- Edwards Lifesciences' outlook for sales and earnings per share was significantly weaker than the optimistic guidance defendants offered to investors.
- Defendants lacked a reasonable basis for the statements made concerning the Company's operations, forecasts and outlook.
If you are a member of the Class described above you may move the Court no later than November 18, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Walter Investment securities prior to the Class Period and have any questions concerning this Notice 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 firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire