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Bernstein Liebhard LLP Announces That A Class Action Has Been Filed Against Abiomed, Inc.
Date:11/28/2012

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").

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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, Ab
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SOURCE Bernstein Liebhard LLP
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