Full Press Release Details
SAN FRANCISCO, Feb. 24, 2025 (GLOBE NEWSWIRE) -- A class-action lawsuit has been filed against TransMedics Group, Inc. (NASDAQ: TMDX), a medical technology company specializing in organ transplant therapy, alleging that the company and certain executives engaged in fraudulent practices and concealed safety issues. The suit, captioned Jewik v. TransMedics Group, Inc., No. 25-cv-10385 (D. Mass.), represents investors who purchased or acquired TransMedics securities between February 28, 2023, and January 10, 2025.
Hagens Berman is investigating the alleged claims and urges investors who purchased TransMedics shares and suffered substantial losses to submit your losses now.
Class Period: Feb. 28, 2023 – Jan. 10, 2025
Lead Plaintiff Deadline: Apr. 15, 2025
Contact the Firm Now: TMDX@hbsslaw.com
The TransMedics Group (TDMX) Class Action
The complaint alleges that TransMedics made false and misleading statements, while failing to disclose crucial information. Specifically, the suit contends that TransMedics used kickbacks, fraudulent overbilling, and coercive tactics to boost business and revenue. Furthermore, it alleges that the company engaged in unsafe practices, concealed safety problems, and generally lacked adequate safety oversight, exposing TransMedics to heightened regulatory risk.
The lawsuit details two events that allegedly disclosed defendants’ misconduct to the market that adversely impacted the company’s stock price. On February 21, 2024, Representative Paul Gosar issued a letter accusing TransMedics of misappropriating corporate resources. The allegations were subsequently reported by The Daily Caller on February 22, 2024, causing a drop in TransMedics' stock price, according to the complaint.
More recently, on January 10, 2025, activist short seller Scorpion Capital released a report leveling accusations against TransMedics, including overbilling hospitals, coercing customers into using specific services, and providing patients with organs rejected by reputable physicians via doctors allegedly paid by TransMedics.
This report further depressed the company’s stock price, the lawsuit claims.
Prominent investor rights firm Hagens Berman Sobol Shapiro LLP is probing whether TransMedics misled investors regarding its sales practices.
“We are looking into claims that TransMedics engaged in improper billing practices and concealed safety issues. These allegations, if true, could have significant implications for both patients and investors,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in TransMedics and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the TransMedics case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding TransMedics should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email TMDX@hbsslaw.com.
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895