Full Press Release Details
PHILADELPHIA, April 02, 2025 (GLOBE NEWSWIRE) -- Berger Montague PC advises investors that a securities class action lawsuit has been filed against TransMedics Group, Inc. (“TransMedics” or the “Company”) (NASDAQ: TMDX) on behalf of purchasers of TransMedics securities between February 28, 2023 through January 10, 2025, inclusive (the “Class Period”).
Investor Deadline: Investors who purchased or acquired TRANSMEDICS securities during the Class Period may, no later than APRIL 15, 2025, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.
TransMedics, headquartered in Andover, Mass., is a medical technology company that offers transplant services, including its Organ Care System (OCS), a portable organ preservation system that replicates physiologic conditions.
According to the lawsuit, throughout the Class Period, the Company and its senior executives misled investors and/or failed to disclose that: (1) TransMedics used kickbacks, fraudulent overbilling, and coercive tactics to generate business and revenue; (2) TransMedics concealed safety issues and a lack of safety oversight within the organization.
Investors learned the truth about TransMedics on February 21, 2024, when U.S. Rep. Paul Gosar sent a letter to the Company accusing it of, among other things, misappropriating corporate resources and gouging transplant centers. On this news, the price of TransMedics stock fell $2.18 per share, or 2.5%, to a close of $84.81 per share on February 22, 2024.
Then, as the suit alleges, on January 10, 2025, Scorpion Capital issued a report accusing TransMedics of, among other things, overbilling hospitals and providing patients with organs that had been rejected by reputable physicians. On this news, TransMedics shares fell $3.74 per share, or 5%, to a closing price of $68.81 on January 10, 2025, and declined by another $4.76 per share (6.9%) on January 13, 2025, to close at $64.05 per share.
To learn your rights or for more information, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Andrew Abramowitz, Senior Counsel
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TransMedics class action
TransMedics securities fraud