BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Boston Scientific Corporation (“Boston Scientific” or the “Company”) (NYSE: BSX) securities between February 26, 2015 and April 16, 2019, inclusive (the “Class Period”). Boston Scientific investors have until June 24, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Boston Scientific investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On April 16, 2019, the Company was ordered by the U.S. Food and Drug Administration (“FDA”) to stop selling and distributing its surgical mesh products. According to the FDA, the Company had “not demonstrated a reasonable assurance of safety and effectiveness for these devices.”
On this news, the Company’s share price fell $2.90 per share, more than 7%, over the following two trading sessions to close at $34.91 per share on April 17, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) Boston Scientific’s surgical mesh products indicated for the transvaginal repair of POP were unsafe; (2) accordingly, Boston Scientific’s continued marketing and sales of these devices in the United States was unlikely to be sustainable; (3) separately, the Company had sold vaginal mesh implants containing counterfeit or adulterated resin products imported from China; (4) the foregoing conduct subjected the Company to a heightened risk of regulatory scrutiny and/or government investigations; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you purchased shares of Boston Scientific, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.