Glancy Binkow & Goldberg LLP Files Class Action Lawsuit Against Edwards
LOS ANGELES -- September 18, 2013
Glancy Binkow & Goldberg LLP, representing investors of Edwards Lifesciences
Corporation (“Edwards Lifesciences” or the “Company”) (NYSE:EW), has filed a
class action lawsuit in the United States District Court for the Central
District of California on behalf of a class (the “Class”) comprising all
purchasers of Edwards Lifesciences common stock between April 25, 2012 and
April 23, 2013, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW &
GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212)
682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF
YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND
NUMBER OF SHARES PURCHASED.
Edwards Lifesciences is a medical device maker that designs and markets, among
other things, artificial heart valves for implantation in patients with
advanced cardiovascular disease. The Company offers a range of such valves,
including both valves that require traditional open-chest surgery, and its
newer SAPIEN line of transcatheter heart valves (“THVs”), which may be
implanted using a minimally invasive procedure.
The Complaint alleges that the Company issued false and/or misleading
statements and failed to disclose material facts related to the prospects,
projected sales and adoption of the Company’s Edwards SAPIEN transcatheter
aortic heart valve, including the related transfemoral and transapical
delivery methods (“SAPIEN”), and related projections of financial performance
for the Company’s operations. Specifically, the Complaint alleges that the
defendants knew but concealed from Edwards Lifesciences’ shareholders during
the Class Period that: (1) adoption of SAPIEN was weaker than the Company
claimed, due to concerns among physicians over the risks and complexity of the
procedure for implanting the valve; (2)Edwards Lifesciences’ outlook for
sales and earnings per share (“EPS”) was significantly weaker than the
optimistic guidance defendants offered to investors; and (3)as a result,
defendants lacked a reasonable basis for the statements made concerning the
Company’s operations, forecasts and outlook.
On April 23, 2013, the Company disclosed that approximately 20 candidate
hospitals had postponed SAPIEN training, that there was substantially no
backlog of patients awaiting SAPIEN implants, and that the Company’s financial
results had been and would likely continue to be weaker than estimates. In
response to this news, Edwards Lifesciences’ stock price fell $18.21 per
share, or 21.99 percent, to close at $64.60 per share on April 24, 2013 on
extremely heavy trading volume.
If you are a member of the Class described above you may move the Court no
later than 60 days from the date of this Notice to serve as lead plaintiff;
however, you must meet certain legal requirements. If you wish to learn more
about this action, or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East,
Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or
contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to
firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone number
and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP
Los Angeles, CA
Michael Goldberg, 888-773-9224
New York, NY
Gregory Linkh, 212-682-5340 or 888-773-9224
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