BALA CYNWYD, Pa., Feb. 18, 2016 /PRNewswire/ -- Law Office of Brodsky & Smith, LLC announces an investigation of Cardiovascular Systems, Inc ("Cardiovascular Systems" or the "Company") (Nasdaq -CSII- News) for potential violations of federal securities laws and breaches of the Cardiovascular Systems Board's fiduciary duties.
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The investigation concerns a securities class action lawsuit commenced in the United States District Court for the Central District of California. The complaint alleges that the Defendants made false and misleading statements including failing to disclose that the company distributed illegal kickbacks to health care providers engaged in off-label promotion of its medical devices. As a result, the complaint alleges that Cardiovascular Systems violated the Food and Drug Administration's laws and regulations in connection with its medical devices. On May 9, 2014, Cardiovascular Systems received a letter from the U.S. Attorney's Office for the Western District of North Carolina stating that it is investigating the Company to determine whether it has violated the False Claims Act, resulting in the submission of false claims to federal and state health care programs. As a result, shares of Cardiovascular Systems declined significantly.
If you purchased shares of Cardiovascular Systems common stock between September 12, 2011 and January 21, 2016, and wish to discuss the investigation, or if you have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, by visiting http://brodsky-smith.com/1041-csii-cardiovascular-systems-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders.
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