NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Cardiovascular Systems Inc. (NASDAQ:CSII) resulting from allegations that Cardiovascular Systems may have issued materially misleading business information to the investing public.
On May 9, 2014, Cardiovascular Systems revealed that it had received a letter on May 8, 2014 from the U.S. Attorney's Office for the Western District of North Carolina stating that Cardiovascular Systems is being investigated for possible violations of the False Claims Act. On July 8, 2015, Cardiovascular Systems further revealed that a whistleblower lawsuit filed in 2013 had been unsealed alleging that Cardiovascular Systems engaged in a fraudulent marketing scheme to maximize profits through illegal kickbacks, off-label promotion, and violations of federal laws and regulations. On October 7, 2015, Cardiovascular Systems disclosed during aftermarket hours that it expects revenue from its fiscal first quarter to be approximately $43.9 million, well below its previously issued guidance of $48.5 million to $50.0 million. On this news, shares of Cardiovascular Systems fell sharply during intraday trading on October 8, 2015, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Cardiovascular Systems investors. If you purchased shares of Cardiovascular Systems on or before October 7, 2015, please visit the firm’s website at http://rosenlegal.com/cases-738.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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