NEW YORK, Sept. 27, 2013 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of those who purchased securities of Edwards Lifesciences Corporation ("Edwards Lifesciences" or the "Company") (NYSE:EW), during the period between April 25, 2012 and April 23, 2013, inclusive (the "Class Period"). The Complaint seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
The Complaint alleges 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 the related transfemoral and transapical delivery methods ("SAPIEN"), and related projections of financial performance for the Company's operations. The Complaint further alleges that Defendants knew but concealed from the Company's shareholders that: (i) 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; (ii) the Company's outlook for sales and earnings per share ("EPS") was significantly weaker than the optimistic guidance defendants offered to investors; and (iii) as a result, Defendants lacked a reasonable basis for the statements made concerning the Company's operations, forecasts and outlook.
If you wish to serve as lead plaintiff, you must move the Court no later than November 18, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or 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 email@example.com or firstname.lastname@example.org.
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