Edwards(US:EW) Prnewswire·2024-11-20 19:12Core Viewpoint - The Edwards Lifesciences Corporation is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims that the company and its executives made misleading statements regarding the company's revenue outlook and growth potential [1][4]. Company Overview - Edwards Lifesciences provides products and technologies for structural heart disease and critical care monitoring, with Transcatheter Aortic Valve Replacement (TAVR) being one of its core products [3]. Allegations of the Lawsuit - The lawsuit alleges that during the class period, the defendants created a false impression of reliable revenue projections while downplaying risks from seasonality and macroeconomic factors [4]. - It is claimed that TAVR's growth was at risk of deceleration, and the optimistic reports regarding TAVR's growth and anticipated ramp-up in the second quarter of 2024 did not align with reality [4]. - The lawsuit also states that the defendants overstated hospital interest in continuing to use TAVR procedures over newer therapies [4]. Impact of Disclosure - On July 24, 2024, Edwards Lifesciences disclosed second quarter 2024 TAVR results that fell below expectations and lowered its fiscal year 2024 projections for TAVR, leading to a stock price drop of over 31% [5]. Legal Process - Investors who purchased Edwards Lifesciences securities during the class period can seek appointment as lead plaintiff in the class action lawsuit, which allows them to act on behalf of all class members [6]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud cases, having recovered $6.6 billion for investors in securities-related class action cases, and is recognized for securing significant monetary relief for investors [7].