NEW YORK, Aug. 6, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announces today that a class action lawsuit has been filed on behalf of all purchasers of the securities of EDAP TMS S.A. (Nasdaq:EDAP) during the period from February 1, 2013 through July 30, 2014, seeking to recover investors' losses.
To join the EDAP class action, visit the website at http://rosenlegal.com or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The lawsuit alleges that Defendants (i) misrepresented the efficacy and safety of its Ablatherm trials by using faulty statistical methods and presenting misleading data; and (ii) understated the occurrence of adverse events in its trials for Ablatherm including erectile dysfunction, urinary incontinence, and urethral and bowel injury.
On July 28, 2014, a U.S. Food and Drug Administration ("FDA") report questioned whether EDAP's methods for testing the device were adequate. Specifically, FDA staff questioned EDAP's safety and effectiveness data because the Company compared patients in two different studies to gather evidence, rather than a head-to-head trial.
On the news, EDAP stock fell $1.23 in heavy trading, or over 25%, to close at $3.65 on July 28, 2014.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 25, 2014. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe. This notice may constitute attorney advertising.