ABIOMED, Inc. Securities Litigation (2019)

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Lawsuit Overview

Defendant:ABIOMED, Inc.
Date Filed:August 6th, 2019
Sector:Health Care
Industry:Medical/Dental Instruments
Class Start Date:November 1st, 2018
Class End Date:July 31st, 2019

According to the Complaint, ABIOMED engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart, and also provides continuum of care to heart failure patients.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) ABIOMED's revenue growth was in decline; (ii) the Company did not have a sufficient plan in place to stem its declining revenue growth; (iii) the Company was unlikely to restore its revenue growth over the next several fiscal quarters; (iv) consequently, ABIOMED was reasonably likely to revise its full-year 2020 guidance in a way that would fall short of the Company's prior projections and market expectations; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

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First Identified Complaint

Kyle Villare, et al. v. ABIOMED, Inc., et al.

Date Filed:August 6th, 2019
Class Period Start:November 1st, 2018
Class Period End:July 31st, 2019
First Identified Complaint Filings
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