NEW YORK, April 30, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of InspireMD, Inc. ("InspireMD" or the "Company") (NYSE MKT: NSPR) (CUSIP: 45779A101). Investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether InspireMD and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 30, 2014 the Company announced in a press release "that it has initiated a Voluntary Field Action (VFA) following recent reports of MGuard Prime EPS stent dislodgements. These reports have primarily occurred during the preparation of the MGuard Prime EPS, upon removal of the protective sleeve or during withdrawal of the MGuard Prime EPS into the guide catheter." MGuard Prime is an Embolic Protection Stent manufactured by InspireMD.
On this news, shares of InspireMD shares fell $0.54, or more than 21.66%, on intraday trading to $1.93, on unusually heavy trading volume.
The Pomerantz Firm, with offices in New York, Chicago, San Diego, 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.
Robert S. Willoughby
SOURCE Pomerantz LLP