An investigation on behalf of current long term investors in ABIOMED, Inc. (NASDAQ:ABMD) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:ABMD stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 12/04/2012 -- Certain directors and officers of ABIOMED, Inc. are under investigation concerning possible breaches of fiduciary duties in connection with certain statements in connection with the Company's marketing and labeling of the Impella 2.5.
Investors who are current long term stockholders in NASDAQ:ABMD shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation on behalf of current long term investors in ABIOMED, Inc. (NASDAQ:ABMD) stocks concerns whether certain ABIOMED officers and directors breached their fiduciary duties. The investigation by a law firm comes after a lawsuit was filed against ABIOMED, Inc. over alleged securities laws violations. The plaintiff in that lawsuit alleges that Defendants touted ABIOMED’s financial strength and future prospects while in reality these statements were materially false and misleading when made because the United States Food and Drug Administration ("FDA") repeatedly warned ABIOMED, Inc. that its promotional materials contained inappropriate claims regarding the Impella 2.5 catheter and suggested improper off-label uses. The plaintiff claims that defendants repeatedly assured investors that they had addressed the FDA's concerns and that the matter was resolved.
Then on November 1, 2012, before the market opened, ABIOMED, Inc. announced its second quarter fiscal 2013 revenue and net income. Among other things, ABIOMED, Inc. also disclosed that on October 26, 2012, it was informed that the U.S. Attorney's Office for the District of Columbia is conducting an investigation that is focused on the Company's marketing and labeling of the Impella 2.5 and that on October, 31, 2012, it accepted service of a Health Insurance Portability and Accountability Act administrative subpoena related to this investigation.
Shares of ABIOMED, Inc. (NASDAQ:ABMD) dropped from $19.91 per share on Wednesday, October 31, 2012, to as low as $12.78 on November 9, 2012.
On Dec. 3, 2012, NASDAQ:ABMD shares closed at $12.80 per share, less than half its current 52 week High of $26.17 per share.
Those who are current long term stockholders in shares of ABIOMED, Inc. (NASDAQ:ABMD) shares, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego