Full Press Release Details
NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Edwards Lifesciences Corporation (NYSE: EW).
Shareholders who purchased shares of EW during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CLASS PERIOD: February 6, 2024 to July 24, 2024
ALLEGATIONS: According to the complaint, defendants provided investors with material information concerning Edwards’ expected revenue for the fiscal year 2024, particularly as it related to the growth of the Company’s core product, Transcatheter Aortic Valve Replacement (“TAVR”). Defendants’ statements included, among other things, strong commitment to the TAVR platform, confidence in the Company’s ability to capitalize on a subset of untreated patients through scaling of its various patient activation activities, and continued claims of significant demand in allegedly lower-penetrated markets. On July 24, 2024, Edwards unveiled below-expectation financial results for the second quarter of fiscal 2024 and, in particular, slashed its revenue guidance for the TAVR platform for the full fiscal year 2024. The Company attributed the TAVR setback on the “continued growth and expansion of structural heart therapies … [which] put pressure on hospital workflows.” Investors understood this to mean that developments in new procedures, including defendant’s own Transcatheter Mitral and Tricuspid Therapies (“TMTT”), put significant strain on hospital structural heart teams such that they were underutilizing TAVR, despite the Company’s continued claim of a significantly undertreated patient population. Moreover, the Company announced three acquisitions during the second quarter designed to embolden their treatments alternative to TAVR, suggesting further that the company was aware of the potential for the TAVR platform’s decelerated growth. Investors and analysts reacted immediately to Edwards’ revelations. The price of Edwards’ common stock declined dramatically. From a closing market price of $86.95 per share on July 24, 2024, Edwards’ stock price fell to $59.70 per share on July 25, 2024, a decline of about 31.34% in the span of just a single day.
DEADLINE: December 13, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/edwards-lifesciences-loss-submission-form/?id=109173&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of EW during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is December 13, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
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