WILMINGTON, Del., Feb. 12, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of HeartWare International, Inc. (NASDAQ:HTWR)?
- Did you purchase your shares between June 10, 2014 and January 11, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of HeartWare International, Inc. (“HeartWare” or the “Company”) (NASDAQ:HTWR) between June 10, 2014 and January 11, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of HeartWare during the Class Period, or purchased shares prior to the Class Period and still hold HeartWare, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/heartware-international-inc-htwr.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on January 11, 2016, HeartWare confirmed that nearly half of all patients in the MVAD trial had suffered “serious adverse events” as a result of software issues with MVAD, including significant blood clotting problems. As a result, HeartWare admitted that there would be indefinite delays for the MVAD trial, and that a redesign of MVAD requiring an entirely new MVAD trial may be required. If a redesign is required, a new trial would not start for a minimum of 18 months – i.e., mid-2017 at the earliest.
On this news, shares of HeartWare dropped over 35%, closing at $26.50 per share on January 12, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than March 22, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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