NEW YORK, Feb. 21, 2014 /PRNewswire/ -- Pomerantz LLP has filed a class action lawsuit against Thoratec Corporation ("Thoratec" or the "Company")(NASDAQ: THOR) and certain of its officers. The class action, filed in United States District Court, Northern District of California, and docketed under 14-cv-00360, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Thoratec securities between April 29, 2010 and November 27, 2013 both dates inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Thoratec securities during the Class Period, you have until March 24, 2014 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
Thoratec researches, develops, manufactures, and markets medical devices for circulatory support and vascular graft applications. The Company's products include a ventricular assist device, an implantable left ventricular heart assist device, a vascular access graft, and a coronary artery bypass graft. Thoratec also supplies whole-blood coagulation testing equipment.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose that the Company's HeartMate II Left Ventricular Assist Device had significant risk of pump thrombosis, causing numerous fatalities. As a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.