SHAREHOLDER ALERT: Levi & Korsinsky Launches an Investigation into Possible Breaches of Fiduciary Du
SHAREHOLDER ALERT: Levi & Korsinsky Launches an Investigation into Possible Breaches of Fiduciary Duty by Abiomed, Inc.
NEW YORK--(BUSINESS WIRE)-- Levi & Korsinsky is investigating potential claims on behalf of purchasers of Abiomed, Inc. ("Abiomed" or the "Company") (NYS: ABMD) . A complaint was filed in Massachusetts federal court.
For more information, click here:http://zlk.9nl.com/abiomed-abmd.
The complaint alleges that Abiomed made materially misleading statements regarding the Company's financial strength and prospects. In particular, it is alleged that positive statements concerning the Company were misleading because the United States Food and Drug Administration ("FDA") repeatedly warned Abiomed that its promotional materials contained inappropriate claims regarding its Impella 2.5 catheter and suggested improper off-label uses. Abiomed repeatedly assured investors that they had addressed the FDA's concerns and that the matter was resolved.
On November 1, 2012, Abiomed disclosed that the Department of Justice had initiated an investigation "focused on the Company's marketing and labeling of the Impella 2.5." On this news, shares of Abiomed's stock fell from $19.82 per share on October 31, 2012 to close at $13.61 on November 1, 2012.
If you own Abiomed shares and wish to obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/abiomed-abmd.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Tel: 212-363-7500
Toll Free: 877-363-5972
Fax: 212-363-7171
www.zlk.com
KEYWORDS: United States North America New York
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The article SHAREHOLDER ALERT: Levi & Korsinsky Launches an Investigation into Possible Breaches of Fiduciary Duty by Abiomed, Inc. originally appeared on Fool.com.
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