Milberg LLP announces that class action lawsuits were filed in the United States District Court for the District of Massachusetts on behalf of purchasers of Abiomed, Inc. (“Abiomed”) (NASDAQ: ABMD) common stock during the period August 5, 2011 to October 31, 2012, (the “Class Period”).
Milberg LLP has created a website (
) that seeks to answer common questions about shareholder class actions.
The Complaints allege violations of the anti-fraud provisions of the Securities Exchange Act of 1934 against Abiomed and certain of its officers and directors.
Specifically, the Complaints allege that positive statements Abiomed made were materially false and misleading because the FDA frequently warned Abiomed that marketing materials regarding the Impella 2.5 Cardiac Support System contained inappropriate off-label use claims, and the Company did not appropriately remedy these issues, all the while issuing positive statements about its business and the Impella 2.5 system.
On November 1, 2012, Abiomed disclosed that the United States Department of Justice had begun an investigation into "the Company's marketing and labeling of the Impella 2.5." In reaction to this news, Abiomed's share price fell 31.33% to close at $13.61 on November 1, 2012.
If you purchased Abiomed shares during the Class Period, you may, no later than January 15, 2013, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a class member that represents other class members in directing the litigation. Your share in any recovery will not be affected by serving as a lead plaintiff, however, lead plaintiffs make important decisions that could affect the overall recovery for class members. You do not need to be a lead plaintiff to recover. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover. If this action is certified as a class action, class members will be automatically represented by Court-appointed counsel. The complaint in this action was not filed by Milberg.