Full Press Release Details
NEW YORK, Nov. 02, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Edwards Lifesciences Corporation (NYSE:EW) and certain of the Company’s senior executives for potential violations of the federal securities laws.
If you invested in Edwards Lifesciences, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/edwards-lifesciences-corporation.
Investors have until December 13, 2024 to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Edwards Lifesciences securities. The case is pending in the U.S. District Court for the Central District of California and is captioned Patel v. Edwards Lifesciences Corporation, et al., No. 24-cv-02221.
What is the Lawsuit About?
The Complaint alleges that Edwards is an international company that researches, develops, and provides products and technologies for heart valve repair and replacement therapies, as well as critical care monitoring solutions. Edwards categorizes its therapies and technologies into four categories: Transcatheter Aortic Valve Replacement (“TAVR”), Transcatheter Mitral and Tricuspid Therapies (“TMTT”), Surgical Structural Heart therapies, and Critical Care therapies.
As alleged, Edwards consistently touted the TAVR platform, the significant unmet demand for TAVR, and the Company’s ability to capitalize on that demand by scaling its various patient activation activities.
These statements were allegedly materially false and misleading. In truth, TAVR’s demand and growth had stalled as Defendants’ patient activation activities failed to reach the perceived low-treatment-rate population and healthcare organizations prioritized other treatments over TAVR.
On July 24, 2024, Edwards slashed guidance for TAVR for fiscal 2024 and announced disappointing financial results for TAVR for fiscal 2Q 24. This is allegedly because developments in new procedures, including Defendant’s own TMTT, put significant strain on hospital structural heart teams such that they were underutilizing TAVR, despite the Company’s continued claims of a significantly undertreated patient population.
The news disclosed on July 24, 2024 caused a significant 31% decline in the price of Edwards stock, from $86.95 per share on July 24, 2024 to $59.70 per share on July 25, 2024.
Click here if you suffered losses: https://www.bfalaw.com/cases-investigations/edwards-lifesciences-corporation.
If you invested in Edwards Lifesciences you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
Attorney advertising. Past results do not guarantee future outcomes.
Tags
Edwards Lifesciences