Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired Boston Scientific Corporation (“Boston Scientific” or the “Company”) (NYSE: BSX) securities between February 26, 2015 and April 16, 2019, inclusive (the “Class Period”). Boston Scientific investors have until June 24, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.
On April 16, 2019, the Company was ordered by the U.S. Food and Drug Administration (“FDA”) to stop selling and distributing its surgical mesh products. According to the FDA, the Company had “not demonstrated a reasonable assurance of safety and effectiveness for these devices.”
On this news, the Company’s share price fell $2.90 per share, more than 7%, over the following two trading sessions to close at $34.91 per share on April 17, 2019, 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: (1) Boston Scientific’s surgical mesh products indicated for the transvaginal repair of POP were unsafe; (2) accordingly, Boston Scientific’s continued marketing and sales of these devices in the United States was unlikely to be sustainable; (3) separately, the Company had sold vaginal mesh implants containing counterfeit or adulterated resin products imported from China; (4) the foregoing conduct subjected the Company to a heightened risk of regulatory scrutiny and/or government investigations; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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If you purchased shares of Boston Scientific during the Class Period you may move the Court no later than June 24, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class 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. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190506005794/en/
Contacts:
Lesley Portnoy,
310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com
