NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired Edwards Lifesciences Corporation (“Edwards Lifesciences” or the “Company”) (NYSE: EW) securities between February 6, 2024 and July 24, 2024, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendants created the false impression that they possessed reliable information pertaining to the Company’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations; (2) TAVR’s growth was at risk of decelerating; (3) the Company’s optimistic reports of TAVR’s growth and anticipated ramp in second quarter 2024 and further ramp throughout fiscal year 2024 fell short of reality as Defendants’ “patient activation activities” failed to reach the perceived low-treatment-rate population TAVR’s growth relied upon obtaining; and (4) Defendants relied far too heavily or otherwise overstated hospital desire to continue to utilize the Company’s TAVR procedures over newer, innovative structural heart therapies.
The Complaint further alleges that on July 24, 2024, the Company disclosed second quarter 2024 TAVR results below expectations and lowered fiscal year 2024 projections for TAVR. On this news, the price of the Company stock fell more than 31%, according to the complaint.
Investors who purchased or otherwise acquired shares of Edwards Lifesciences Corporation should contact the Firm prior to the December 13, 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
