These investors may have legal recourse to pursue compensation for damages in light of a recent company disclosure.
Abiomed is a leading healthcare technology company which has focused itself on developing new technologies to help or replace the pumping function of the heart.
On Nov. 1, 2012, Abiomed issued a press release announcing that the U.S. Attorney's Office for the District of Columbia was investigating the company's marketing and labeling of its Impella 2.5 heart pump system.
Attorneys are investigating potential claims that could affect investors who purchased Abiomed common stock. They are looking to determine whether the company violated securities laws following the disclosure of a probe by the Department of Justice and an anticipated FDA review of the marketing and labeling of the company’s Impella 2.5 heart pump system.
On Nov. 1, Abiomed issued a press release announcing that the U.S. Attorney’s Office for the District of Columbia would be investigating marketing and labeling of the Impella 2.5. The company accepted a subpoena related to this investigation and announced that it planned to “cooperate fully.” Abiomed also announced that the FDA will likely convene an advisory panel in Dec. 2012 to review the classification of the Impella heart pump systems and similar products. Following the announcement, the company’s shares fell over 30%.