NEW YORK, Jan. 25, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of HeartWare International, Inc. ("HeartWare" or the "Company") (NASDAQ: HTWR). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether HeartWare and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On September 9, 2015, the company reported that it had "paused its MVAD clinical trial to address an MVAD controller manufacturing process issue." Then, on October 13, 2015, HeartWare reported certain adverse events in clinical trials of the company's MVAD products, and stated that the MVAD clinical trials may not be re-initiated. On this news, HeartWare stock fell $8.82, or 20%, to close at $35.21 on October 13, 2015. Finally, on January 11, 2016, HeartWare disclosed that problems with MVAD had resulted in serious adverse events in nearly half of the patients so far implanted with the device and that the trial would be delayed indefinitely.
On this news, HeartWare stock fell $14.34, or 35.1%, to close at $26.50 on January 12, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby Pomerantz LLP email@example.com
SOURCE Pomerantz LLP