NEW YORK, Jan. 25, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of HeartWare International, Inc. ("He" or the "Company") (NASDAQ: HTWR), concerning whether the board has breached its fiduciary duties to shareholders.
In June 2014, HeartWare received a warning letter from the U.S. Food and Drug Administration identifying inadequacies at the Company's sole manufacturing facility. Company representatives assured investors that the letter posed no risk to HeartWare's clinical trials or timely approval of a pump that HeartWare is developing called MVAD.
In September 2015, the Company disclosed that it was halting enrollment in the MVAD trial due to a manufacturing problem with the device. In October 2015, the Company disclosed that patients in the MVAD trial had suffered adverse events causing the trial to be further delayed.
Then, on January 11, 2016, Heartware revealed that problems with MVAD had resulted in serious adverse events in nearly half of the patients so far implanted with the device and the trial would be delayed indefinitely.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own HeartWare shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq. Benjamin I. Sachs-Michaels, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212)935-7400 Email: ="file:///C:/Users/bsachsmichaels/Documents/C&D%20Technologiesfirstname.lastname@example.org" rel="nofollow" target="_blank">email@example.com Website: http://www.hfesq.com Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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