Boston Scientific Corporation
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | Boston Scientific Corporation |
Stock Symbol : | NYSE: BSX |
Class Period Start: | 02/26/2015 |
Class Period End: | 04/16/2019 |
Lead Plaintiff motion: | 06/24/2019 |
Date Filed: | 04/24/2019 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Southern District of New York |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the June 24, 2019 lead plaintiff deadline in a class action lawsuit filed against Boston Scientific Corporation (NYSE: BSX) (“Boston Scientific” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Boston Scientific Corporation securities between February 26, 2015 and April 16, 2019, have until June 24, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased Boston Scientific Corporation securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Boston Scientific’s surgical mesh products indicated for the transvaginal repair of pelvic organ prolapse (“POP”) were unsafe; accordingly, Boston Scientific’s continued marketing and sales of these devices in the United States was unlikely to be sustainable; separately, the Company had sold vaginal mesh implants containing counterfeit or adulterated resin products imported from China; the foregoing conduct subjected the Company to a heightened risk of regulatory scrutiny and/or government investigations; and as a result, the Company’s public statements were materially false and misleading at all relevant times. On April 16, 2019, the Food and Drug Administration (“FDA”) revealed that it had “ordered the manufacturers of all remaining surgical mesh products indicated for the transvaginal repair of pelvic organ prolapse . . . to stop selling and distributing their products in the U.S. immediately.” The FDA stated that “the manufacturers, Boston Scientific and Coloplast, have not demonstrated a reasonable assurance of safety and effectiveness for these devices,” as required to continue marketing the devices in the United States.
Following this news, NYSE: BSX fell from $37.81 per share on April 16, 2019 to $34.91 per share on April 17, 2019—a $2.90 or 7.67% drop. If you were negatively impacted by your investment in Boston Scientific Corporation securities between February 26, 2015 and April 16, 2019 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Materials are provided for informational purposes only and do not constitute legal advice. We are only licensed to practice law in Germany. We are neither licensed nor qualified to render advice on US Federal or State law. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185 |