Glancy Binkow & Goldberg LLP, Representing Investors Who Purchased AtriCure, Inc., Announces Class Action Lawsuit and Seeks to Recover Losses -- ATRC

• Press Release
• Source: Glancy Binkow & Goldberg LLP
• On 11:08 pm EST, Friday December 12, 2008

LOS ANGELES, Dec. 12, 2008 (GLOBE NEWSWIRE) -- Notice is hereby given that Glancy Binkow & Goldberg LLP has filed a class action lawsuit in the United States District Court for the Southern District of Ohio on behalf of a Class consisting of all persons or entities who purchased or otherwise acquired the securities of AtriCure, Inc. (``AtriCure'' or the ``Company'') (NasdaqGM:ATRC - News), between May 10, 2007 and October 31, 2008, inclusive (the ``Class Period'').

Related Quotes

Symbol	Price	Change
ATRC	6.05	+0.06

{"s" : "atrc","k" : "c10,l10,p20,t10","o" : "","j" : ""}

A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or to obtain a copy of the Complaint at (310) 201-9150 or Toll Free at (888) 773-9224, by email at info@glancylaw.com, or visit our website at http://www.glancylaw.com.

The Complaint charges AtriCure and certain of its executive officers with violations of federal securities laws. Among other things, plaintiff claims that defendants' material omissions and dissemination of materially false and misleading statements concerning the Company's business, operations and prospects, caused AtriCure's stock price to become artificially inflated, inflicting damages on investors. AtriCure is a medical device company engaged in the development, manufacture and sale of cardiac surgical ablation systems designed to create precise lesions, or scars, in cardiac tissue.

The Complaint alleges that defendants fraudulently inflated AtriCure's securities prices by improperly promoting its products to physicians and improperly causing the filing of false claims for reimbursement. On October 31, 2008 AtriCure shocked investors when the Company revealed that it had received a letter from the U.S. Department of Justice - Civil Division (the ``DOJ'') informing the Company that the DOJ was conducting an investigation for potential False Claims Act and common law violations relating to the Company's surgical ablation devices. AtriCure further disclosed that, specifically the DOJ was investigating the Company's marketing practices utilized in connection with AtriCure's surgical ablation system to treat atrial fibrillation, a specific use outside the Federal Food and Drug Administration's 510(k) clearance. Moreover, the Company revealed that the DOJ was investigating whether AtriCure instructed hospitals to bill Medicare for surgical ablation using incorrect billing codes. As a result of this news, the Company's shares declined $2.53 per share, or 39.41 percent, to close on November 3, 2008, at $3.89 per share, on unusually heavy trading volume.

Plaintiff seeks to recover damages on behalf of class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.

If you are a member of the class described above, you may move the Court, no later than 60 days from the date of this Notice, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.

         Glancy Binkow & Goldberg LLP, Los Angeles, CA
         Lionel Z. Glancy
         Michael Goldberg
         (310) 201-9150
         Toll Free: (888) 773-9224
         info@glancylaw.com
         www.glancylaw.com