NEW YORK, Nov. 19, 2012 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a class action has been filed in the United District Court for District of Massachusetts on behalf of purchasers of Abiomed, Inc. (Nasdaq:ABMD) ("Abiomed") securities between August 5, 2011 and October 31, 2012, inclusive (the "Class Period").
If you purchased Abiomed, Inc. securities between August 5, 2011 and October 31, 2012, you may, no later than January 15, 2013, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The lawsuit alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Morgan & Morgan has not filed a complaint in this matter.
Whistleblowers with information are eligible for rewards if such information leads to a successful enforcement action by the Securities and Exchange Commission.
For more information please contact either Peter Safirstein or Sheila Feerick at Morgan & Morgan, Five Penn Plaza, 23rd floor, New York, New York 10001 or by telephone at (800) 732-5200, or by email to AbiomedCase@morgansecuritieslaw.com, or visit our website at www.morgansecuritieslaw.com.
On November 1, 2012, Abiomed issued a press release stating that, "On October 26, 2012, Abiomed was informed that the United States Attorney's Office for the District of Columbia is conducting an investigation that is focused on the Company's marketing and labeling of the Impella 2.5. On October, 31, 2012, Abiomed accepted service of a Health Insurance Portability and Accountability Act administrative subpoena related to this investigation. The subpoena seeks documents related to the Impella 2.5 and we understand the investigation focuses primarily on marketing and labeling issues. Abiomed is in the process of responding to the subpoena and intends to cooperate fully."
Following Abiomed's announcement, the Company's shares fell over 30%, closing on November 1, 2012 at $13.61
About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to securities law, the firm also practices in the areas of personal injury, consumer protection, overtime, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people." For more information, please visit www.morgansecuritieslaw.com
The Morgan & Morgan logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12899
Attorney advertising. Prior results do not guarantee a similar outcome.