The Brualdi Law Firm, P.C. Announces Class Action Lawsuit Against AtriCure, Inc.


NEW YORK, Dec. 19, 2008 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Southern District of Ohio on behalf of purchasers of AtriCure, Inc. ("AtriCure" or the "Company") (Nasdaq:ATRC) securities during the period between May 10, 2007 and October 31, 2008 (the "Class Period") for violations of the federal securities laws.

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. If you purchased AtriCure common stock during the Class Period, and wish to move the court for appointment of lead plaintiff, you must do so by February 10, 2009. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.

To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.

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. AtriCure further disclosed that, specifically the DOJ was investigating the Company's marketing practices utilized in connection with AtriCure's surgical ablation system to treat atrial fibrillation, a specific use outside the Federal Food and Drug Administration's 510(k) clearance. Moreover, the Company revealed that the DOJ was investigating whether AtriCure instructed hospitals to bill Medicare for surgical ablation using incorrect billing codes. 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.



            

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