ABMD SHAREHOLDER ALERT: Bernstein Liebhard LLP Announces That a Securities Class Action Lawsuit Has Been Filed Against Abiomed Inc.
NEW YORK, Aug. 7, 2019 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of shareholders of Abiomed, Inc. ("Abiomed" or the "Company") (NASDAQ: ABMD) between January 31, 2019, and July 31, 2019, inclusive (the "Class Period"). The lawsuit filed in the United States District Court for the Southern District of New York seeks to recover damages for Abiomed investors under the Securities Exchange Act of 1934.
If you wish to serve as lead plaintiff, you must move the Court no later than October 7, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Abiomed Inc. securities, and/or would like to discuss your legal rights and options please visit ABMD Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Abiomed's revenue growth was in decline; (ii) the Company did not have a sufficient plan in place to stem its declining revenue growth; (iii) the Company was unlikely to restore its revenue growth over the next several fiscal quarters; (iv) consequently, Abiomed was reasonably likely to revise its full-year 2020 guidance in a way that would fall short of the Company's prior projections and market expectations; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
On August 1, 2019, the Company slashed its previously issued full-year 2020 guidance from total revenues in the range of $900-945 million to total revenues in the range of $885-925 million, which fell roughly $22 million short of market expectations. On this news, Abiomed's stock price fell $73.69 per share, or 26.45%, to close at $204.87 per share on August 1, 2019.
If you purchased ABMD securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/abiomedinc-abmd-shareholder-class-action-lawsuit-stock-fraud-164/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
[email protected]
SOURCE Bernstein Liebhard LLP
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