Harwood Feffer LLP Announces Investigation of Vascular Solutions Inc.
NEW YORK, Oct. 22, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against certain officers and members of the board of directors of Vascular Solutions Inc. ("Vascular" or the "Company") (Nasdaq: VASC) concerning potential breaches of fiduciary duties in connection with the Company's off-label marketing of its Vari-Lase medical device used to treat varicose veins and varicosities.
On November 19, 2010, a former Vascular employee filed under seal a qui tam action against the Company alleging Vascular illegally marketed its Vari-Lase Short Kit to treat conditions other than those approved by the Food and Drug Administration and engaged in an illegal kickback scheme with doctors who prescribed the device for off-label use, all in violation of federal law. The complaint also alleged that such illegal practices resulted in over $20 million in improper Medicare and Medicaid reimbursements.
Vascular announced on June 28, 2011, that it had received a subpoena from the United States Attorney's Office for the Western District of Texas under the Health Insurance Portability & Accountability Act of 1996 requesting documents concerning such off-label marketing practices. The government later elected to intervene in the qui tam action, the complaint for which was unsealed on August 14, 2012.
If you own Vascular shares and wish to discuss your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Peter W. Overs, Jr. Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
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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SOURCE Harwood Feffer LLP