BOCA RATON, FL--(Marketwired - June 06, 2016) - Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the District of Massachusetts against Neovasc, Inc. ("Neovasc" or the "Company") (NVCN) on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period between January 26, 2015, and May 19, 2016, inclusive (the "Class Period").
Neovasc is a specialty medical company that develops, manufactures and markets cardiovascular products. The Company's main product is the Tiara, a transcatheter mitral valve device used to treat mitral valve disease. The Tiara, which the Company started developing in the second quarter of 2011, can be implanted through minimally invasive surgery to individuals who experience mitral regurgitation as a result of mitral heart valve disease.
The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (i) that the Company's Tiara device was developed through unlawful business practices, including the misappropriation of trade secrets from another company; (ii) that a related lawsuit against Neovasc regarding the misappropriation of trades secrets had merit; and (iii) that, as a result of the above, Defendants' statements about Neovasc's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
If you purchased Neovasc stock between January 26, 2015, and May 19, 2016, inclusive, you may contact Lester Hooker (firstname.lastname@example.org) at Saxena White P.A. to discuss your rights and interests.
If you purchased Neovasc common stock during the Class Period of January 26, 2015 through May 19, 2016, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court by no later than August 5, 2016. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
Saxena White P.A., located in Boca Raton, Florida, concentrates its practice on prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.