NEW YORK, Dec. 29, 2016 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces it is continuing to investigate potential securities claims on behalf of shareholders of Endologix, Inc. (NASDAQ: ELGX) resulting from allegations that Endologix may have issued materially misleading business information to the investing public.
Nellix is Endologix's endovascular aneurysm sealing system for infrarenal abdominal aortic aneurysms. On August 2, 2016, CEO John McDermott indicated that Endologix would seek approval of the original version of the Nellix system that was used in the Nellix investigational device exemption (IDE) clinical trial, the EVAS FORWARD-IDE Study, given that Endologix had the needed clinical data. On November 16, 2016, Endologix announced that the FDA has requested two-year follow-up data on patients enrolled in the EVAS-FORWARD-IDE Study to assess Nellix. On this news, shares of Endologix fell $2.02 per share or over 20% to close at $7.82 per share on November 16, 2016, damaging investors.
On December 27, 2016, Endologix announced the need to complete an investigation of a manufacturing issue. On this news, shares of Endologix fell $1.92 per share or over 26% to close at $5.27 per share on December 27, 2016, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Endologix investors. If you purchased shares of Endologix please visit the firm's website at http://www.rosenlegal.com/cases-999.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/equity-alert-rosen-law-firm-continues-investigation-of-securities-claims-against-endologix-inc---elgx-300384057.html
SOURCE Rosen Law Firm, P.A.