LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Nevro Corporation To Contact The Firm

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Oct 19, 2018, 16:55 ET

NEW YORK, Oct. 19, 2018 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Nevro Corporation ("Nevro" or the "Company") (NYSE:NVRO) of the October 22, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Nevro stock or options between January 8, 2018 and July 12, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/NVRO. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected].

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26^th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
[email protected]
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Nevro securities between January 8, 2018 and July 12, 2018 (the "Class Period"). The case, Oklahoma Police Pension and Retirement System v. Nevro Corporation et al., No. 18-cv-05181 was filed on August 23, 2018, and has been assigned to Judge Yvonne Gonzalez Rogers.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose: (1) that Nevro had engaged in a fraudulent scheme by using protected confidential and proprietary trade secrets and stolen documents from its competitors to develop and enhance the Company's Senza I and Senza II systems; (2) that as a result, the Company's Senza I and Senza II systems were not "novel" or "proprietary;" (3) that these practices caused the Company to be vulnerable to increased litigation expenses and adverse legal and regulatory action; and (4) that, as a result, Nevro's U.S. sales growth was not sustainable.

Specifically, on April 27, 2018, Boston Scientific filed a complaint against Nevro, which alleged that the Company had engaged in patent infringement, theft of trade secrets, and tortious interference with contract.

On this news, the Company's stock price fell from $90.82 per share on April 27, 2018 to $89.36 per share on April 30, 2018—a $1.46 or 1.61% drop.

Then, on May 7, 2018, the Company announced first quarter 2018 financial results that were negatively impacted from "legal expenses associated with the intellectual property litigation" with Boston Scientific.

On this news, the Company's stock price fell from $92.26 per share on May 7, 2018 to $77.59 per share on May 8, 2018—a $14.67 or 15.9% drop.

Then, on July 2, 2018, Morgan Stanley downgraded the Company to "Equal Weight," explaining that the Company was facing a "key risk" with its patent litigation and questioning its ongoing claims of "superiority."

On this news, the Company's stock price fell from $79.85 per share on June 29, 2018 to $73.23 per share on July 2, 2018—a $6.62 or 8.3% drop.

Then, on July 5, 2018, Judge Vincent Chhabria of the Northern District of California issued a tentative ruling on cross-motions for summary judgment in Nevro's own patent infringement action against Boston Scientific. Judge Chhabria's tentative ruling threatened to end Nevro's case by invalidating the lion's share of Nevro's patents.

On this news, the Company's stock price fell from $75.47 per share on July 9, 2018 to $64.04 per share on July 10, 2018—a $11.43 or 15.15% drop.

Then, on July 13, 2018, Nevro filed a Form 8-K with the SEC announcing without explanation or warning, that the Company had "determined to terminate James Alecxih's, Vice President Worldwide Sales, employment with the Company."

On this news, the Company's stock price fell from $68.04 per share on July 12, 2018 to $57.77 per share on July 13, 2018—a $10.27 or 15.09% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Nevro's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

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