STEVENSON, Md., Sept. 19, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of Edwards Lifesciences Corporation ("Edwards Lifesciences" or the "Company") (NYSE: EW ) common stock during the period between April 25, 2012 and April 23, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in Edwards Lifesciences Corporation common stock purchased on or after April 25, 2012, and held through the revelation of negative information on April 23, 2013, as described below, at no cost to you, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com , by email at hoffman@browerpiven.com , by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than November 18, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
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 physicians' use of SAPIEN, the Company's transcatheter aortic heart valve, was weaker than the Company claimed because of concerns among physicians over the risks and complexity of the procedure for implanting the valve and that the Company's outlook for sales and earnings per share was significantly weaker than the optimistic guidance defendants offered to investors. According to the complaint, following the Company's August 23, 2013 disclosure that approximately twenty candidate hospitals had postponed SAPIEN training, that there was substantially no backlog of patients awaiting SAPIEN implants, and that the Company's financial results had been and would likely continue to be weaker than estimates, the value of Edwards Lifesciences shares declined significantly.
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 Stevenson, Maryland 410/415-6616
