SHAREHOLDERS ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Thoratec Corporation and Certain Officers

SHAREHOLDERS ALERT: Pomerantz Law Firm Announces the Filing of a Class Action 
Against Thoratec Corporation and Certain Officers - THOR 
NEW YORK, NY -- (Marketwired) -- 03/21/14 --  Pomerantz LLP has filed
a class action lawsuit against Thoratec Corporation ("Thoratec" or
the "Company") (NASDAQ: THOR) and certain of its officers. The class
action, filed in United States District Court, Northern District of
California, and docketed under 14-cv-00360, is on behalf of a class
consisting of all persons or entities who purchased or otherwise
acquired Thoratec securities between April 29, 2010 and November 27,
2013 both dates inclusive (the "Class Period"). This class action
seeks to recover damages against Defendants for alleged violations of
the federal securities laws pursuant to Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934 and Rule 10b-5 promulgated
thereunder. 
If you are a shareholder who purchased Thoratec securities during the
Class Period, you have until March 24, 2014 to ask the Court to
appoint you as Lead Plaintiff for the class. A copy of the Complaint
can be obtained at www.pomerantzlaw.com. To discuss this action,
contact Robert S. Willoughby at rswilloughby@pomlaw.com or
888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by
e-mail are encouraged to include their mailing address, telephone
number, and number of shares purchased. 
Thoratec researches, develops, manufactures, and markets medical
devices for circulatory support and vascular graft applications. The
Company's products include a ventricular assist device, an
implantable left ventricular heart assist device, a vascular access
graft, and a coronary artery bypass graft. Thoratec also supplies
whole-blood coagulation testing equipment. 
The Complaint alleges that throughout the Class Period, Defendants
made false and/or misleading statements, as well as failed to
disclose material adverse facts about the Company's business,
operations, and prospects. Specifically, Defendants failed to
disclose that the Company's HeartMate II Left Ventricular Assist
Device had significant risk of pump thrombosis, causing numerous
fatalities. As a result of the foregoing, the Company's statements
were materially false and misleading at all relevant times. 
On
 April 4, 2012, U.S. regulators ordered a recall for the company's
HeartMate II heart pumps for a potentially deadly defect. In a
regulatory posting by the Food and Drug Administration, the agency
stated that the recall "was initiated after Thoratec found that a
component of the implanted device, which pumps blood for heart
failure patients, may sometimes be improperly attached to the
HeartMate II." On the news, Thoratec shares tumbled $1.52 or almost
4.5% to close at $32.83 on April 4, 2012. 
On November 27, 2013, after the market closed, The New England
Journal of Medicine released a study entitled, "Unexpected Abrupt
Increase in Left Ventricular Assist Device Thrombosis" concluding
that the "rate of pump thrombosis related to the use of the HeartMate
II has been increasing at our centers and is associated with
substantial morbidity and mortality." On this news, Thoratec shares
declined $2.75 per share or 6.5%, to close at $39.37 per share on
November 29, 2013. 
The Pomerantz Firm, with offices in New York, Chicago, Florida, and
San Diego, is acknowledged as one of the premier firms in the areas
of corporate, securities, and antitrust class litigation. Founded by
the late Abraham L. Pomerantz, known as the dean of the class action
bar, the Pomerantz Firm pioneered the field of securities class
actions. Today, more than 70 years later, the Pomerantz Firm
continues in the tradition he established, fighting for the rights of
the victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com. 
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com 
 
 
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