This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Newman Ferrara LLP Announces That A Securities Fraud Class Action Lawsuit Has Been Filed Against ABIOMED, Inc.

Newman Ferrara LLP announces that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts against ABIOMED, Inc. (“Abiomed”) (Nasdaq: ABMD) and certain of its executive officers, alleging violations of federal securities laws.

Investors who purchased Abiomed securities between August 5, 2011 and October 31, 2012 (the “Class Period”) may apply with the Court to be appointed Lead Plaintiff no later than January 15, 2013. The Lead Plaintiff will direct the litigation on behalf of the other class members. The Court will select the Lead Plaintiff from among applicants claiming the largest investment losses.

Abiomed provides cardiac assist devices designed to provide circulatory support and care to patients with acute heart failure. One of Abiomed’s primary products is a micro heart pump called the Impella 2.5 catheter. The Complaint alleges that the defendants issued false and/or misleading statements and/or failed to disclose that: (1) Abiomed was improperly marketing and labeling Impella 2.5 and had received warnings about such improper practices from the Food and Drug Administration; (2) Abiomed’s financial results would be materially negatively impacted if Abiomed was forced to cease improperly marketing and labeling Impella 2.5; and (3) Abiomed lacked adequate internal and financial controls.

On November 2, 2012, Abiomed disclosed that on October 26, 2012, it had been informed that the United States Attorney’s Office was conducting an investigation into Abiomed’s marketing and labeling of Impella 2.5 and on October 31, 2012, Abiomed had accepted service of a Health Insurance Portability and Accountability Act administrative subpoena related to that investigation. On this news, shares of Abiomed stock dropped 31.3% to a November 1, 2012 closing price of $13.61 per share.

Investors who purchased shares of Abiomed stock during the Class Period are encouraged to contact Newman Ferrara attorney Roy Shimon at rshimon@nfllp.com or call (212) 619-5400 to discuss this lawsuit or the Lead Plaintiff process.

Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.



Stock quotes in this article: ABMD 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs