NEW YORK, Jan. 30, 2021 (GLOBE NEWSWIRE) -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of Boston Scientific Corporation ("Boston Scientific" or the "Company") (NYSE: BSX) from April 24, 2019 through November 16, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Eastern District of New York alleges violations of the Securities Exchange Act of 1934.
If you purchased Boston Scientific securities, and/or would like to discuss your legal rights and options please visit Boston Scientific Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com
The complaint alleges that during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the LOTUS Edge Aortic Valve System’s product delivery system was dysfunctional and threatened the continued viability of the entire product line; (2) as a result, the Company had materially overstated the continued commercial viability and profitability of the LOTUS Edge Aortic Valve System; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On November 17, 2020, pre-market, Boston Scientific announced a global recall of all unused inventory of the LOTUS Edge Aortic Valve System due to “complexities associated with the product delivery system.” Boston Scientific also announced that “[g]iven the additional time and investment required to develop and reintroduce an enhanced delivery system, the company has chosen to retire the entire LOTUS product platform immediately.”
On this news, Boston Scientific’s stock price fell $3.00 per share, or 7.89%, to close at $35.03 per share on November 17, 2020.
If you wish to serve as lead plaintiff, you must move the Court no later than February 2, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Boston Scientific securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/bostonscientificcorporation-bsx-shareholder-class-action-lawsuit-fraud-stock-341/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com