Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of North Carolina on behalf of investors who purchased Trans1 Inc. (“Trans1” or the “Company”) (Nasdaq: TSON) stock between February 21, 2008 and October 17, 2011.
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The Complaint alleges that, during the Class Period, TranS1 made false and/or misleading statements or failed to disclose that the Company: (a) was not in compliance with federal healthcare fraud and false claim statutes; (b) engaged in improper reimbursement practices; (c) lacked adequate internal and financial controls; and (d) as a result of the foregoing, during the Class Period the Company’s statements were materially false and misleading.
On October 18, 2011, after the market closed, TranS1 disclosed that it had received a subpoena from the Department of Health and Human Services Office of Inspector General. Upon these revelations, TranS1 shares declined $1.27 or more than 40%, to close at $1.85 on October 18, 2011.If you suffered a loss in Trans1 you have until March 26, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://www.zlk.com/trans1-tson.html. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.