IMPORTANT HEARTWARE INTERNATIONAL SHAREHOLDER ALERT: Wolf Haldenstein Adler Freeman & Herz LLP Announces That a Class Action...
January 29 2016 - 5:30PM
Wolf Haldenstein Adler Freeman & Herz LLP announces
that a class action lawsuit has been
filed on behalf of investors who purchased HeartWare International,
Inc. (“HeartWare” or the "Company") (NASDAQ:HTWR) securities
between June 10, 2014 and January 11, 2016, inclusive (the “Class
Period”) in the United States District Court for the Southern
District of New York.
Shareholders who incurred losses on
shares of HeartWare International, Inc. are urged to contact the
firm immediately at classmember@whafh.com or (800) 575-0735 or
(212) 545-4774.
If you purchased the shares of HeartWare International,
Inc. during the period June 10, 2014 and January 11, 2016,
inclusive, you may, no later than March 22, 2016,
request that the Court appoint you lead plaintiff of the proposed
class.
The filed Complaint alleges that after the U.S.
Food and Drug Administration ("FDA") issued a Warning Letter
identifying numerous manufacturing and other regulatory failures at
the Company's sole manufacturing facility, Defendants falsely
assured investors that the Company had addressed those problems,
and that they therefore posed no risk to the clinical trials or
timely approval of MVAD, a pump that HeartWare is presently
developing.
The truth concerning the Company's failure to
remediate the regulatory failures identified by the FDA and its
impact on the viability of MVAD was revealed through a series of
disclosures. On September 1, 2015, HeartWare announced a highly
dilutive acquisition of Valtech Cardio, Ltd., a manufacturer of
medical devices used to treat heart disease. The Complaint alleges
that this disclosure revealed significant obstacles to the timely
approval of MVAD. On September 9, 2015, HeartWare disclosed that it
was halting enrollment in the MVAD trial because of a manufacturing
problem with the device.
On October 12, 2015, HeartWare disclosed that
patients in the MVAD trial had suffered adverse events, and that
the trial would be further delayed. On January 11, 2016, the
Company revealed that problems with MVAD had resulted in serious
adverse events in nearly half of the patients so far implanted with
the device, and that the trial would be delayed indefinitely.
In response to each of these disclosures, the
price of HeartWare's common stock declined significantly.
HeartWare's common stock has fallen 72% from its Class Period high
of $94.47 on April 10, 2015, to close at $26.50 per share on
January 12, 2016.
Wolf Haldenstein has extensive experience in the
prosecution of securities class actions and derivative litigation
in state and federal trial and appellate courts across the
country. The firm has attorneys in various practice areas;
and offices in New York, Chicago and San Diego. The
reputation and expertise of this firm in shareholder and other
class litigation has been repeatedly recognized by the courts,
which have appointed it to major positions in complex securities
multi-district and consolidated litigation.
If you wish to discuss this action or have any
questions regarding your rights and interests in this case, please
immediately contact Wolf Haldenstein Adler Freeman & Herz LLP
by telephone at (800) 575-0735, via e-mail at
classmember@whafh.com, or visit our website at www.whafh.com.
All e-mail correspondence should make reference to the “HeartWare
Investigation.”
Attorney Advertising. Prior results do not guarantee or predict
a similar outcome.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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