BOSTON, Nov. 2, 2012 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible securities law violations involving Abiomed Inc. ("Abiomed" or the "Company") (NASDAQ: ABMD) following the Company's disclosure of a Department of Justice investigation into "marketing and labeling issues" of its Impella 2.5 system.
On November 1, 2012, the Company announced that, on October 26, 2012, it was informed that the United States Attorney's Office for the District of Columbia was conducting an investigation into Abiomed's marketing and labeling of its Impella 2.5 system. This investigation follows reports that, in June 2011, Abiomed received a warning letter from the U.S. Food and Drug Administration about improper marketing of the Impella 2.5 system for unapproved uses.
News of the DOJ investigation shocked the market and the Company's stock price fell by more than 32% - dropping from $19.82 per share on October 31, 2012 to close at $13.61 per share on November 1, 2012.
Block & Leviton's investigation seeks to determine, among other things, whether Abiomed or its officers and directors have violated the federal securities laws. If you have any information relevant to this investigation, or have questions about your legal rights, please contact attorney Steven P. Harte of Block & Leviton LLP at (617) 398-5600 or email him at Steven@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.
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SOURCE Block & Leviton LLP