Law Offices of Howard G. Smith announces that it is investigating
potential claims on behalf of purchasers of the common stock of Edwards
Lifesciences Corporation (“Edwards Lifesciences” or the “Company”)
(NYSE:EW) concerning possible violations of federal securities laws. The
investigation focuses on certain statements issued by the Company
between April 25, 2012 and April 23, 2013.
Edwards Lifesciences is a medical device maker that designs and markets
artificial heart valves, among other things, including valves that
require traditional open-chest surgery and a newer “SAPIEN” line of
transcatheter heart valves that may be implanted using a minimally
invasive procedure.
The investigation is related to allegations that the Company issued
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 allegations
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.
On April 23, 2013, the Company 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. Following this news, Edwards Lifesciences’ stock price fell
nearly 22% on April 24, 2013, on extremely heavy trading volume.
If you purchased Edwards Lifesciences shares, if you have information or
would like to learn more about these claims, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire, of
Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888)
638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at www.howardsmithlaw.com.
Copyright Business Wire 2013