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According to the complaint, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: (1) that the Company lacked effective regulatory compliance controls; (2) that the Company was illegally and extensively marketing its laser and catheters for uses that had not been approved by the FDA; (3) that the Company failed to report to the FDA that tests found its laser caused significant damage to stents it was using in the clinical trial; (4) that the company illegally tested several products on patients without FDA approval; (5) that the Company lacked effective internal controls; and (6) as a result of the above, the Company's financial results were materially inflated.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. November 24, 2008 is the deadline for investors to seek a lead plaintiff appointment.
Bronstein Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate work, private securities offerings, and securities arbitration.
Contact: Peretz Bronstein Eitan Kimelman Bronstein, Gewirtz & Grossman, LLC 212-697-6484 Email Contact
SOURCE: Bronstein, Gewirtz & Grossman, LLC
http://www2.marketwire.com/mw/emailprcntct?id=BE8339D137ADACD0
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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