NEW YORK, Sept. 23, 2013 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC announces that a securities class action has been filed in the United States District Court for the Central District of California on behalf of those who purchased shares of Edwards Lifesciences Corporation. ("Edwards Lifesciences or the Company") (NYSE: EW), during the period between April 25, 2012 and April 23, 2013, inclusive (the "Class Period").
The complaint charges Edwards Lifesciences and certain of its executives with violations of federal securities laws. The complaint alleges that during the class period Edwards Lifesciences and certain of its executives issued a series of materially false and misleading statements during the Class Period, specifically the complaint alleges that the Company concealed from its shareholders the following: (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) the Company's outlook for sales and earnings per share was significantly weaker than the optimistic guidance Defendants offered to investors; and (3) as a result, Defendants lacked a reasonable basis for their statements concerning Edwards Lifesciences' operations, forecasts, and outlook.
On April 24, 2013, shares of Edwards Lifesciences fell $18.21 of 21.99% to close at $64.60 after the Company disclosed, after the market closed on April 23, 2013, 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.
Plaintiff seeks to recover damages on behalf of all Edwards Lifesciences shareholders who purchased common stock during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. November 18, 2013 is the deadline for investors to seek a lead plaintiff appointment. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
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