An investigation for investors in Thoratec Corporation (NASDAQ:THOR) shares over potential securities laws violations by Thoratec was announced and NASDAQ:THOR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/20/2015 -- An investigation on behalf of investors of Thoratec Corporation (NASDAQ:THOR) shares over potential securities laws violations by Thoratec and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Thoratec Corporation (NASDAQ:THOR) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Thoratec Corporation (NASDAQ:THOR) concerning whether a series of statements by Thoratec regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
In January 2014 a lawsuit was filed against Thoratec Corporation over alleged securities laws violations. The plaintiff alleged on behalf of all persons or entities who purchased or otherwise acquired securities of Thoratec Corporation (NASDAQ:THOR) between April 29, 2010 and November 27, 2013, that Thoratec Corporation and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claimed that defendants failed to disclose that the Company's HeartMate II Left Ventricular Assist Device had significant risk of pump thrombosis, causing numerous fatalities and that as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times. On April 4, 2012, U.S. regulators ordered a recall for the company's HeartMate II heart pumps. On November 27, 2013, a study conducted by the Cleveland Clinic was published in the New England Journal of Medicine that said that an increasing rate of blood clots in patients implanted with the company's HeartMate II pump the Company's HeartMate II device caused a high incidence of blood clots in heart patients.
In February 2014 Thoratec Corporation reported its fourth quarter 2013 results. Thoratec Corporation reported that its Total Revenue rose from $491.65 million in 2012 to $502.82 million in 2013 and that its respective Net Income increased from $56.16 million to $73.33 million.
On May 6, 2014, Thoratec Corporation announced its first quarter 2014 results. Thoratec Corporation announced that its first quarter Revenue rose from $117.72 million in 2013 to $125.69 million in 2014 and that its first quarter Net Income increased from $18.17 million in 2013 to $18.23 million in 2014.
Then on August 6, 2014, Thoratec Corporation announced financial results for its second quarter 2014 which were below analysts' expectations and lowered its full year guidance. Shares of Thoratec Corporation (NASDAQ:THOR) declined from $43.30 per share in November to $22.74 per share on August 7, 2014.
On January 16, 2014, NASDAQ:THOR shares closed at $35.58 per share.
Those who purchased shares of Thoratec Corporation (NASDAQ:THOR) have certain options and should contact the Shareholders Foundation.
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