STEVENSON, Md., June 03, 2016 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the
Eastern District of North Carolina on behalf of purchasers of TransEnterix, Inc. (NYSE MKT:TRXC) (“TransEnterix” or the “Company”)
common stock during the period between February 10, 2016 and May 10, 2016, inclusive (the “Class Period”). Investors with losses in
excess of $100,000 who wish to become proactively involved in the litigation have until August 1, 2016 to seek appointment as lead
plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and
be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including
whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the
largest loss from investment in TransEnterix common stock during the Class Period. Members of the Class will be represented by the
lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period that TransEnterix’s deficiencies in the Company’s 510(k) application to the
United States Food and Drug Administration (“FDA”) regarding the SurgiBot System (“SurgiBot”), a single-port, robotically enhanced
laparoscopic surgical platform, including communications with the FDA that undermined the likelihood that the SurgiBot 510(k) would
receive FDA clearance, whether the SurgiBot possessed substantial equivalence to existing robotic surgical devices, and that
without 510(k) clearance, the Company would be unable to commercialize the SurgiBot in 2016 and suffer negative impacts on the
Company’s ability to obtain approval and commercialization in the United States of its other robotic surgery platform.
According to the complaint, following an April 20, 2016 announcement that the FDA had determined the SurgiBot
did not meet the criteria for substantial equivalence based on the data submitted, and a May 10, 2016 announcement that the Company
was reprioritizing its near-term regulatory efforts, shelving the SurgiBot, and had taken action to reduce headcount and investment
related to the SurgiBot, the value of TransEnterix shares declined significantly.
If you have suffered a loss from investment in TransEnterix common stock purchased on or after February 10, 2016
and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more
about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website
at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by
contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Brower Piven also encourages anyone
with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers,
former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and
have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven
without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
