Navigation Links
Bernstein Liebhard LLP Announces That A Class Action Has Been Filed Against Abiomed, Inc.

NEW YORK, Nov. 28, 2012 /PRNewswire/ -- Bernstein Liebhard LLP today announced that a class action has been commenced in the United States District Court for the District of Massachusetts on behalf of a class (the "Class") of purchasers of Abiomed, Inc. ("Abiomed" or the "Company") (NASDAQ: ABMD) common stock between August 5, 2011 and October 31, 2012, inclusive (the "Class Period").

(Logo: )

Abiomed is a purported pioneer in healthcare technology and innovation and is famous for the world's first total replacement heart and the world's smallest heart pump.  One of the Company's chief products is the Impella 2.5 pump, which is designed to provide short-term circulatory support for heart patients. 

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding Abiomed's business operations, financial condition and prospects.  Specifically, the Complaint alleges that the defendants failed to resolve issues stemming from the Company's promotional and marketing materials for the Impella 2.5.  As a result of defendants' false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.

According to the Complaint, Abiomed received letters from the United States Food and Drug Administration ("FDA") in 2010, 2011 and 2012, informing it that the Company was marketing the Impella 2.5 in ways that were not compliant with FDA regulations. While the Company did not disclose the 2010 letter to investors, it misled investors regarding the 2011 and 2012 letters by stating that the Company was cooperating with the FDA to address those issues.

On November 1, 2012, Abiomed disclosed that the United States Department of Justice had begun an investigation "focused on the Company's marketing and labeling of the Impella 2.5."  Thus, it became apparent to investors that Abiomed had not resolved the outstanding issues addressed by the FDA.  On this news, shares in Abiomed declined 31% on tremendous volume.

Plaintiffs seek to recover damages on behalf of all Class members who invested in Abiomed common stock during the Class Period.  If you invested in Abiomed common stock during the Class Period, and either lost money on the transaction or still hold the shares, you may wish to join in this action to serve as lead plaintiff.  In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than January 15, 2013.

A "lead plaintiff" is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as lead plaintiff.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain Bernstein Liebhard LLP, or other counsel of your choice, to serve as your counsel in this action.

If you are interested in discussing your rights as an Abiomed shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or

Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients.  It has been named to The National Law Journal's "Plaintiffs' Hot List" in each of the last ten years.

You can obtain a copy of the complaint from the clerk of the court for the United States District Court for the District of Massachusetts.

Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414

ATTORNEY ADVERTISING. © 2012 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
(212) 779-1414 

SOURCE Bernstein Liebhard LLP
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Par Pharmaceutical Companies, Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation Of Acquisition By TPG
2. Amylin Pharmaceuticals, Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation Of Acquisition By Bristol-Myers Squibb Company
3. Watson to Present at the Sanford C. Bernstein 28th Annual Strategic Decisions Conference
4. Pressure BioSciences Announces Conversion of All Remaining Series E Convertible Preferred Stock by Ironridge BioPharma
5. Argus Announces Next Generation Pharmacy Claims Processing Solution
6. Anthera Announces Data from the Phase 2b PEARL-SC Study Presented at the 2012 Asian Lupus Summit
7. Valeant Pharmaceuticals Announces New Management Appointments
8. BioDelivery Sciences Announces $40 Million Registered Financing
9. Robbins Umeda LLP Announces the Filing of a Securities Fraud Class Action Lawsuit Against Abiomed, Inc.
10. Echo Therapeutics Announces Proposed Public Offering
11. Alere Inc. Announces Offering of $450 Million of Senior Notes
Post Your Comments:
(Date:11/25/2015)... , Nov. 25, 2015 USP 800 ... drug preparations (e.g. pharmacists, pharmacy technicians, nurses, physicians, ... technicians). The chapter also covers all entities which ... pharmacies, hospitals, other healthcare institutions, patient treatment clinics, ... --> --> What is ...
(Date:11/25/2015)... Asia -based venture ... and the New Investors will make a direct equity ... private placement. The financing will help IOPtima to continue ... in the treatment of glaucoma, as well as to ... system with the U.S. Food and Drug Administration, commencing ...
(Date:11/25/2015)... , November 25, 2015 Developmental, commercial, ... in boosting the profitability of pharmaceutical products, says ... and regulatory/legal strategies all play a key ... says GBI Research . --> ... a key role in boosting the profitability of pharmaceutical products, ...
Breaking Medicine Technology:
(Date:11/26/2015)... ... November 26, 2015 , ... The Catalent Applied Drug ... need to integrate dose form selection in early phase drug development. The first ... supporting and bringing together the UK’s emerging life sciences companies, corporate partners, and ...
(Date:11/26/2015)... ... November 26, 2015 , ... PRMA Plastic Surgery is ... 2015, our surgeons performed their 6,000th free flap breast reconstruction surgery! , “What an ... every day excited to rebuild lives and it’s an honor to have served all ...
(Date:11/26/2015)... ... November 26, 2015 , ... Pixel Film ... trailer titles with ProTrailer: Vintage. This newly styled ProTrailer pack comes with 30 ... with any font, giving users limitless opportunities to stylize and create designs quickly ...
(Date:11/26/2015)... ... , ... Indosoft Inc., developer and distributor of the world-class Asterisk based contact ... and reliability. , The new Q-Suite 6 platform is based on the latest Java ... into a specific piece of software for many key components of the suite. Much ...
(Date:11/25/2015)... Indianapolis, IN (PRWEB) , ... November 25, 2015 ... ... clean water accessible for all, Water For Empowerment ™ attracts volunteers together ... on clean water by empowering women as key stakeholders in the process. The ...
Breaking Medicine News(10 mins):