Contact Information: Joseph E. White, III Greg Stone Saxena White P.A. 2424 North Federal Highway, Suite 257 Boca Raton, FL 33431 Tel: (561) 394-3399 Fax: (561) 394-3382 www.saxenawhite.com
Saxena White P.A. Has Filed a Securities Fraud Class Action Against AtriCure Inc.
| Source: Saxena White P.A.
BOCA RATON, FL--(Marketwire - January 16, 2009) - Notice is hereby given that Saxena White
P.A. has filed suit on behalf of shareholders of AtriCure Inc. ("AtriCure"
or the "Company") (NASDAQ : ATRC ) in the United States District Court for
the Southern District of Ohio.
The complaint seeks damages for violations of federal securities laws on
behalf of all investors who purchased AtriCure stock between May 10, 2007
and October 31, 2008, inclusive (the "Class Period"). 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.
During the Class Period, 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.
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.
You may obtain a copy of the complaint from the Court, by contacting Saxena
White P.A. through its website www.saxenawhite.com, by emailing
jwhite@saxenawhite.com or gstone@saxenawhite.com, or by calling (561)
394-3399.
If you purchased AtriCure stock between May 10, 2007 and October 31, 2008,
you may wish to contact Joe White or Greg Stone at Saxena White P.A. to
discuss your rights and interests:
If you wish to apply to be the lead plaintiff in this action, a motion on
your behalf must be filed with the court no later than February 10, 2009.
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, which has offices in Boca Raton and Boston, specializes
in 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.