SAN DIEGO, Oct. 23, 2024 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of all persons and entities who purchased or otherwise acquired Edwards Life Sciences Corporation. (NYSE: EW) (“Edwards” or the “Company”) securities between February 6, 2024 and July 24, 2024, inclusive (the “Class Period”), charging the Company and certain of its current senior executives with violations of the federal securities laws (collectively, “Defendants”).
Edwards investors have until December 13, 2024 to seek appointment as lead plaintiff of the Edwards class action lawsuit.
If you purchased Edwards securities between February 6, 2024 and July 24, 2024, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/edwards/.
You can also contact DiCello Levitt attorneys Brian O’Mara or Hani Farah by calling (888) 287-9005 or emailing investors@dicellolevitt.com. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.
Case Allegations
Edwards is an international company that researches, develops, and provides products and technologies for heart valve repair and replacement therapies, as well as critical care monitoring solutions.
The Edwards class action lawsuit alleges that Defendants made materially false and misleading statements and concealed material adverse facts concerning Edwards’s core product, Transcatheter Aortic Valve Replacement (“TAVR”). Specifically, Defendants’ misstatements stressed commitment to the TAVR platform and confidence in the Company’s ability to capitalize on a subset of untreated patients through scaling of its various patient activation activities, and continued claims of significant demand in allegedly lower-penetrated markets.
The truth began to emerge on July 24, 2024, when Edwards reported disappointing financial results for the second quarter of fiscal 2024 and slashed its revenue guidance for the TAVR platform for the 2024 fiscal year. Edwards attributed TAVR’s poor performance on the “continued growth and expansion of structural hear therapies . . . [which] put pressure on hospital workflows.” In other words, the development of new procedures, including some of Edwards’s own, placed significant strain on hospital structural heart teams to the point they were not using TAVR. Further, Edwards announced three acquisitions during the second quarter aimed at strengthening its therapy platforms alternative to TAVR, further indicating it was aware the TAVR platform faced reduced growth.
In response to this news, Edwards’s stock price fell $27.25 per share, or nearly 32%.
About DiCello Levitt
At DiCello Levitt, we are dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases – whether by trial, settlement, or otherwise – for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens’ rights and interests. Every day, we put our reputations – and our capital – on the line for our clients.
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Media Contact
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