SAN DIEGO & REDWOOD CITY, Calif.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Nevro Corp. (NYSE: NVRO) have filed a shareholder lawsuit against the company's officers and directors for breaches of their fiduciary duties from January 8, 2016 through the present. Nevro is a medical device company that provides products for patients suffering from chronic pain in the United States and internationally. Nevro's principal products are its HF10 therapies delivered by its Senza I and Senza II spinal cord stimulation systems.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/nevro-corp/
Nevro Accused of Scheming to Steal Trade Secrets
According to the complaint, Nevro is engaged in several patent disputes with Boston Scientific Corp. relating to Nevro's HF10 therapies and the Senza systems. Boston Scientific contends that Nevro has stolen trade secrets, tortuously interfered with its contracts, and hired former Boston Scientific employees to obtain Boston Scientific's trade secrets. Then, in May 2018, Nevro reported disappointing first quarter 2018 financial results, citing an increase in quarterly operating expenses. In July 2018, several analysts downgraded the company's stock because the patent litigation had become a "key risk." That same month, a tentative ruling in the patent litigation invalidated five of the patents related to Nevro's HF10 therapy and Senza systems. Since April, Nevro's stock has lost over half of its value, closing at only $41.60 per share on November 7, 2018.
Nevro Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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