A Deadline is coming up on August 5, 2016 in the lawsuit for investors in Neovasc Inc (US) (NASDAQ:NVCN and NASDAQ:NVCN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/28/2016 -- The Shareholders Foundation announced that a deadline is coming up on August 5, 2016 in the lawsuit filed for certain investors of Neovasc Inc (US) (NASDAQ:NVCN) over alleged securities laws violations by Neovasc Inc.
Investors who purchased shares of Neovasc Inc (US) (NASDAQ:NVCN) have certain options and there are strict and short deadlines running. Deadline: August 5, 2016. NASDAQ:NVCN stockholders should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the District of Massachusetts the plaintiff alleges on behalf of purchasers of Neovasc Inc (US) (NASDAQ:NVCN) common shares between January 26, 2015, and May 19, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between January 26, 2015, and May 19, 2016 the Defendants made false and/or misleading statements and/or failed to disclose that Neovasc Inc's Tiara device was developed through unlawful business practices, including the misappropriation of trade secrets from another company, that a related lawsuit against Neovasc Inc regarding the misappropriation of trades secrets had merit, and that, as a result of the above, Defendants' statements about Neovasc's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On May 29, 2016, Neovasc Inc announced that following a trial in Boston, Massachusetts a jury found in favor of CardiAQ, on CardiAQ's claims for relief for breach of contract, breach of the duty of honesty in contractual performance, and three of CardiAQ's six asserted trade secrets. Neovasc Inc announced that the jury also issued advisory findings in favor of CardiAQ regarding its causes of action under Massachusetts Gen. Law. Ch. 93A and patent inventorship, and that the jury awarded US $70 million on the trade secret claim for relief, and no damages on the contractual claims for relief.
Shares of Neovasc Inc (US) (NASDAQ:NVCN) declined from $9.90 per share in February 2015 to as low as $0.37 per share on May 20, 2016.
On July 27, 2016, NASDAQ:NVCN shares closed at $0.529 per share.
Those who purchased shares of Neovasc Inc (US) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego