Law Offices of Howard G. Smith reminds investors of the upcoming December 13, 2024 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Edwards Lifesciences Corporation (“Edwards Lifesciences” or the “Company”) (NYSE: EW) securities between February 6, 2024 and July 24, 2024,inclusive (the “Class Period”).
Investors suffering losses on their Edwards Lifesciences investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com.
On July 24, 2024, Edwards Lifesciences announced fiscal second quarter 2024 results which came in below expectations. The Company also announced lowered projections for its core Transcatheter Aortic Valve Replacement (TAVR) platform for the full fiscal year 2024. The Company attributed the TAVR setback to the “continued growth and expansion of structural heart therapies … [which] put pressure on hospital workflows.”
On this news, Edwards Lifesciences’ stock price fell $27.25, or 31.34%, to close at $59.70 per share on July 25, 2024, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company did not possess reliable information pertaining to projected revenue outlook and anticipated growth; (2) the Company’s growth was at risk of decelerating; (3) the Company’s “patient activation activities” failed to reach the perceived low-treatment-rate population TAVR’s growth relied upon obtaining; (4) the Company overstated hospital desire to continue to utilize the Company’s TAVR procedures over newer, innovative structural heart therapies; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Edwards Lifesciences securities during the Class Period, you may move the Court no later than December 13, 2024 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, 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.
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