WAYNE, Pa., June 10, 2016 /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the District of Massachusetts on behalf of purchasers of Neovasc Inc. ("Neovasc" or the "Company") (NASDAQ: NVCN) common stock during the period between January 26, 2015, and May 19, 2016, inclusive (the "Class Period").
Neovasc shareholders may, no later than August 5, 2016, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Neovasc and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/nvcn.
Neovasc is a specialty medical company that develops, manufactures and markets cardiovascular products. The Company's main product is the Tiara, a transcatheter mitral valve device used to treat mitral valve disease. The Tiara, which the Company started developing in the second quarter of 2011, can be implanted through minimally invasive surgery to individuals who experience mitral regurgitation as a result of mitral heart valve disease.
The Complaint alleges claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company's Tiara device was developed through unlawful business practices, including the misappropriation of trade secrets from another company; (2) that a related lawsuit against Neovasc regarding the misappropriation of trades secrets had merit; and (3) that, as a result of the above, Defendants' statements about Neovasc's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
If you are a member of the class, you may, no later than August 5, 2016, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
For more information regarding this, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at firstname.lastname@example.org or visit: www.rmclasslaw.com/cases/nvcn. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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SOURCE Ryan & Maniskas, LLP