An investigation on behalf of current long term investors in Edwards Lifesciences Corp (NYSE:EW) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:EW stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 10/07/2013 -- An investigation on behalf of investors in shares of Edwards Lifesciences Corp (NYSE:EW) was announced concerning whether certain Edwards Lifesciences directors and officers breached their fiduciary duties in connection with certain statements made between April 25, 2012 and April 23, 2013.
Investors who purchased shares in Edwards Lifesciences Corp (NYSE:EW) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in Edwards Lifesciences Corp (NYSE:EW) stocks follows a lawsuit filed earlier against Edwards Lifesciences Corp over alleged securities laws violations. The investigation on behalf of current long term investors in Edwards Lifesciences Corp (NYSE:EW) stocks concerns whether certain Edwards Lifesciences officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that Edwards Lifesciences Corp violated the Securities Exchange Act of 1934 by issuing allegedly false and/or misleading statements and failed to disclose material facts related to the prospects, projected sales and adoption of the Company’s Edwards SAPIEN transcatheter aortic heart valve, including the related transfemoral and transapical delivery methods (“SAPIEN”), and related projections of financial performance for the Company’s operations.
The plaintiff alleges that the defendants allegedly knew but concealed from Edwards Lifesciences’ shareholders between April 25, 2012 and April 23, 2013 that adoption of SAPIEN was weaker than the Company claimed, due to concerns among physicians over the risks and complexity of the procedure for implanting the valve, that Edwards Lifesciences’ outlook for sales and earnings per share was significantly weaker than the optimistic guidance defendants offered to investors, and that as a result, defendants lacked a reasonable basis for the statements made concerning the Company’s operations, forecasts and outlook.
On April, 23, 2013, Edwards Lifesciences Corp reported its first quarter results. The plaintiff says that Edwards Lifesciences Corp disclosed that approximately 20 candidate hospitals had postponed SAPIEN training, that there was substantially no backlog of patients awaiting SAPIEN implants, and that the Company’s financial results had been and would likely continue to be weaker than estimates.
Shares of Edwards Lifesciences Corp dropped from almost $110 in October 2012 to as low as $62.54 per share in May 2013.
On Oct. 4 2013, NYSE:EW shares closed at $72.81 per share.
Those who purchased shares of Edwards Lifesciences Corp have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego