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Edwards Lifesciences Corporation (EW) Faces Shareholder Class Action Over Sapien TAVI System


9/20/2013 7:53:36 AM

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Medical device company Edwards Lifesciences is the subject of a class action lawsuit accusing the company of lying about its Sapien transcatheter aortic valve implantation system. A California law firm announced this week that it's representing shareholders of Edwards Lifesciences (NYSE:EW) in a class action lawsuit accusing the company of withholding information and misleading investors about the market for its Sapien transcatheter aortic valve implantation system. The lawsuit was spurred by Edwards' revelation on April 23, 2013, that about 20 candidate hospitals had decided to postpone Sapien training and that there was "substantially no backlog of patients awaiting SAPIEN implants," according to the firm of Glancy Binkow & Goldberg LLP.

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