LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Todd M. Garber announces that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of a class (the “Class”) comprising all persons or entities who purchased the securities of Abiomed, Inc. (“Abiomed” or the “Company”) (NASDAQ:ABMD) between August 5, 2011 and October 31, 2012, inclusive (the “Class Period”).
Abiomed is a provider of medical devices for circulatory support and offers a continuum of care in heart recovery for acute heart failure patients. The Company’s Impella 2.5 catheter is a percutaneous micro heart pump with an integrated motor and sensors, designed primarily for use by interventional cardiologists to support patients in the cardiac catheterization lab who may require assistance to maintain their circulation.
The Complaint alleges that throughout the Class Period the defendants made materially false and misleading statements regarding the Company’s business, operations and financial prospects. Specifically, defendants misrepresented and/or failed to disclose that: (1) the Company was improperly marketing and/or labeling its Impella 2.5 system; (2) Abiomed’s financial results would be materially impacted if the Company were either forced to stop or discontinued its improper conduct; (3) the Company lacked adequate internal and financial controls; and (4) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.
If you are a member of the above-described Class, you may move the Court no later than January 15, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time, or you may retain counsel of your choice. If you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
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