Surmodics, Inc: Company Investigated by the Portnoy Law Firm

Los Angeles, California, UNITED STATES


Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Surmodics, Inc (“Surmodics” or “the Company”) (NASDAQ: SRDX) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Surmodics investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

The investigation is looking into whether Surmodics, the company, made false and/or misleading statements and/or failed to disclose important information to its investors. On January 19, 2023, the company announced that it had received a letter from the FDA stating that the approval for their drug-coated balloon (DCB) product, SurVeil™, could not be approved in its current form and that additional information on biocompatibility and labeling must be provided before approval. In response to the FDA letter, the company stated that they are evaluating the issues raised and plan to meet with the FDA to determine the next steps. They also mentioned that they will be evaluating options to reduce their use of cash due to this development. As a result of this news, the company's shares fell by over 28.3%.

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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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