Finkelstein Thompson LLP Announces Investigation of Abiomed, Inc.
Finkelstein Thompson LLP Announces Investigation of Abiomed, Inc.
WASHINGTON--(BUSINESS WIRE)-- The law firm of Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Abiomed, Inc. (NAS: ABMD) ("Abiomed" or "the Company") in connection with the Company's marketing of its Impella 2.5 heart pump system. If you are interested in discussing your rights as a shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.
On November 1, 2012, Abiomed issued a press release stating that
On October 26, 2012, Abiomed was informed that the United States Attorney's Office for the District of Columbia is conducting an investigation that is focused on the Company's marketing and labeling of the Impella 2.5. On October, 31, 2012, Abiomed accepted service of a Health Insurance Portability and Accountability Act administrative subpoena related to this investigation. The subpoena seeks documents related to the Impella 2.5 and we understand the investigation focuses primarily on marketing and labeling issues. Abiomed is in the process of responding to the subpoena and intends to cooperate fully.
The Impella 2.5 is pumping system designed to provide short-term circulatory support for heart patients. Abiomed's announcement follows a June 2011 warning letter from the United States Food and Drug Administration accusing the Company of making unsubstantiated and unauthorized efficacy claims about the Impella 2.5 system in its marketing materials.
Following Abiomed's announcement, the Company's shares fell over 30%, closing the day at $13.59.
Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers. To learn more about Finkelstein Thompson LLP, please visit our web site at www.finkelsteinthompson.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Finkelstein Thompson LLP
L. Kendall Satterfield, 877-337-1050
KEYWORDS: United States North America District of Columbia
INDUSTRY KEYWORDS:
The article Finkelstein Thompson LLP Announces Investigation of Abiomed, Inc. originally appeared on Fool.com.
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