NEW YORK, Nov. 19, 2012 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased Abiomed, Inc. ("Abiomed" or the "Company") (NYSE:ABMD) stock between August 5, 2011 and October 31, 2012.
For more information, click here: http://zlk.9nl.com/abiomed-abmd.
The complaint alleges that, throughout the Class Period, Abiomed made materially misleading statements regarding the Company's financial strength and prospects. In particular, it is alleged that positive statements concerning the Company were misleading because the United States Food and Drug Administration ("FDA") repeatedly warned Abiomed that its promotional materials contained inappropriate claims regarding its Impella 2.5 catheter and suggested improper off-label uses. Abiomed repeatedly assured investors that they had addressed the FDA's concerns and that the matter was resolved.
On November 1, 2012, Abiomed disclosed that the Department of Justice had initiated an investigation "focused on the Company's marketing and labeling of the Impella 2.5." On this news, shares of Abiomed's stock fell from $19.82 per share on October 31, 2012 to close at $13.61 on November 1, 2012.
If you suffered a loss in Abiomed you have until January 12, 2013to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/abiomed-abmd.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP