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Bernstein Liebhard LLP Announces That A Class Action Has Been Filed Against Invacare Corporation
Date:6/5/2013

NEW YORK, June 5, 2013 /PRNewswire/ -- Bernstein Liebhard LLP today announced that a class action has been commenced in the United States District Court for the Northern District of Ohio on behalf of all those who purchased shares of Invacare Corporation (NYSE: IVC) ("Invacare" or the "Company") between July 22, 2010 through December 7, 2011, inclusive (the "Class Period").

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The Complaint alleges that during the Class Period, Invacare and certain of its senior executives violated provisions of the Securities Exchange Act of 1934 by issuing false and misleading press releases, financial statements, filings with the Securities and Exchange Commission ("SEC"), and statements during investor conference calls. As alleged in the Complaint, Invacare and certain of its senior executives misled investors regarding Invacare's noncompliance with Food and Drug Administration ("FDA") guidelines and Current Good Manufacturing Practices ("CGMP"), and masked the fact that the Company suffered from widespread operational, quality, and regulatory deficiencies.  Specifically, the Company concealed from investors that it received a series of warnings from the FDA -- known as Forms 483 -- which identified serious compliance violations at its two major United States-based manufacturing facilities.

After repeatedly failing to remedy these violations, the Company received a Warning Letter from the FDA, which the FDA released to the public on January 4, 2011. The Warning Letter identified a litany of CGMP violations and "recurring" consumer complaints concerning the safety of Invacare's medical beds, including incidents of deat
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SOURCE Bernstein Liebhard LLP
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