(NewMediaWire) - December 13, 2024 - Investors in Edwards Lifesciences Corporation (NYSE: EW) contend that the medical device giant misled them about the growth prospects of its core product, the Transcatheter Aortic Valve Replacement (TAVR) platform. A class action lawsuit has been filed, accusing the company of securities fraud and claiming that executives painted a misleading picture of TAVR's future growth potential.
Class Period: Feb. 6, 2024 – July 24, 2024
Lead Plaintiff Deadline: Dec. 13, 2024
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Class Action Lawsuit Against Edwards Lifesciences Corporation (EW):
The lawsuit, filed in the United States District Court for the Central District of California, claims that Edwards Lifesciences repeatedly assured investors that TAVR was poised for sustained growth. However, the company’s second-quarter 2024 financial results revealed a significant slowdown in TAVR sales and a reduction in growth guidance.
Investors allege that the company failed to disclose material adverse facts, including the potential for slower TAVR growth and challenges related to hospital workflow pressures from emerging structural heart therapies.
The lawsuit contends that these undisclosed issues caused the shares to drop $27.25 (-31%) on July 25, 2024 following the earnings announcement, wiping out over $16 billion of shareholder value in a single day.
The class action seeks to recover damages for investors who suffered losses as a result of the company's alleged misrepresentations and omissions.
Prominent shareholder rights firm Hagens Berman is actively investigating investors’ claims.
"We're investigating whether Edwards Lifesciences knew about the slowing growth of its TAVR platform and the impact of emerging competitive therapies, but failed to disclose this information to investors," said Reed Kathrein, a partner at Hagens Berman.
If you invested in Edwards Lifesciences and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now
If you’d like more information and answers to frequently asked questions about the Edwards Lifesciences case and our investigation, read more
Whistleblowers: Persons with non-public information regarding Edwards Lifesciences should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email EW@hbsslaw.com.
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
