NEW YORK, Nov. 17, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Endologix Inc. ("Endologix" or the "Company") (NASDAQ: ELGX). Such investors are advised to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/elgx.
The investigation concerns whether Endologix and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Nellix is Endologix's endovascular aneurysm sealing system for infrarenal abdominal aortic aneurysms. On August 2, 2016, John McDermott, Endologix's Chief Executive Officer said that the Company would seek approval of the original 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. Then on November 16, 2016, Endologix revealed that the FDA requested follow up data for two years for patients registered in the EVAS-FORWARD-IDE study, used to evaluate Nellix. Following this news, Endologix stock dropped $2.02 per share or over 20% to close at $7.82 per share on November 16, 2016.
If you are aware of any facts relating to this investigation, or purchased Endologix shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/elgx. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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.