Glancy Binkow & Goldberg Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Edwar
Glancy Binkow & Goldberg Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Edwards Lifesciences Corporation
LOS ANGELES--(BUSINESS WIRE)-- Glancy Binkow & Goldberg LLP, representing investors of Edwards Lifesciences Corporation ("Edwards Lifesciences" or the "Company") (NYS: EW) , announces that purchasers of the Company's common stock between April 25, 2012 and April 23, 2013, inclusive (the "Class Period'), have until November 18, 2013 to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Central District of California.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US AT (212) 682-5340, TOLL-FREE AT (888) 773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
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 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: (1) 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; (2) Edwards Lifesciences' outlook for sales and earnings per share ("EPS") was significantly weaker than the optimistic guidance defendants offered to investors; and (3) as a result, defendants lacked a reasonable basis for the statements made concerning the Company's operations, forecasts and outlook.
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 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.
To learn more about this action, or if you have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
KEYWORDS: United States North America California
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