STEVENSON, Md., Aug. 27, 2018 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Nevro Corp. (NYSE: NVRO) (“Nevro” or the “Company”) securities during the period between January 8, 2018 and July 12, 2018, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until October 22, 2018 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Nevro securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Nevro had engaged in a fraudulent scheme by using protected confidential and proprietary trade secrets and stolen documents to develop and enhance Nevro’s Senza I and Senza II spinal cord stimulation systems, which caused the Company to be vulnerable to increased litigation expenses and adverse legal and regulatory action, and Nevro’s U.S. sales growth was not sustainable.
According to the complaint, following an April 27, 2018 disclosure of a lawsuit by Boston Scientific Corp. against Nevro for patent infringement, theft of trade secrets, and tortious interference with contract, a May 7, 2018 announcement of increased legal expenses associated with intellectual property litigation, a July 2, 2018 analyst downgrade due to the patent litigation, a July 10, 2018 announcement of a tentative ruling that threatened to invalidated Nevro’s patents, and a July 13, 2018 announcement of the termination of the Vice President of Worldwide Sales, the value of Nevro shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Nevro securities purchased on or after January 8, 2018 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
