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BOSTON SCIENTIFIC CORPORATION CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York against Boston Scientific Corporation

Wolf Haldenstein Adler Freeman & Herz LLP
·3 min read

LEAD PLAINTIFF DEADLINE IS FEBRUARY 2, 2021

NEW YORK, Dec. 18, 2020 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of investors who purchased or acquired the securities of Boston Scientific Corporation ("Boston Scientific" or the "Company") (NYSE: BSX) from April 24, 2019 through November 16, 2020 (the "Class Period").

All investors who purchased shares of Boston Scientific Corporation and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in the shares of Boston Scientific Corporation, you may, no later than February 2, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Boston Scientific Corporation.

CLICK HERE TO JOIN CASE

The filed complaint alleges that during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:

  • the LOTUS Edge Aortic Valve System's product delivery system was dysfunctional and threatened the continued viability of the entire product line;

  • as a result, the Company had materially overstated the continued commercial viability and profitability of the LOTUS Edge Aortic Valve System; and

  • as a result, the Company's public statements were materially false and misleading at all relevant times.

On November 17, 2020, pre-market, Boston Scientific announced a global recall of all unused inventory of the LOTUS Edge Aortic Valve System due to "complexities associated with the product delivery system." Boston Scientific also announced that "given the additional time and investment required to develop and reintroduce an enhanced delivery system, the company has chosen to retire the entire LOTUS product platform immediately."

On this news, Boston Scientific's stock price fell $3.00 per share, or 7.89%, to close at $35.03 per share on November 17, 2020.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.