Scott+Scott Attorneys at Law LLP Reminds Investors of Its Securities Class Action Against TransMedics Group, Inc. (NASDAQ: TMDX)

Core Viewpoint - A securities class action lawsuit has been filed against TransMedics Group, alleging misleading statements and illegal business practices that negatively impacted the company's financial performance and stock price [1][3]. Group 1: Lawsuit Details - The lawsuit was filed by Scott+Scott Attorneys at Law LLP in the U.S. District Court for the District of Massachusetts, asserting claims under the Securities Exchange Act of 1934 [1]. - The class period for the lawsuit spans from February 28, 2023, to January 10, 2025, covering all individuals who purchased TransMedics securities during this time [1][6]. Group 2: Allegations Against TransMedics - Defendants are accused of failing to disclose reliance on illegal and coercive business practices, including kickbacks, billing fraud, and overcharging patients, which led to a decline in customer usage and increased regulatory scrutiny [3]. - The lawsuit highlights a significant decline in revenues and gross margin reported by TransMedics in Q3 2024, marking the first sequential revenue decline since Q3 2021, resulting in a nearly 30% drop in stock price [4]. Group 3: Impact on Stock Price - Following the release of a report by Scorpion Capital on January 10, 2025, which accused TransMedics of overbilling hospitals, the stock price fell by $3.74 per share (5.15$68.81 [5]. - On January 13, 2025, the stock experienced a further decline of $4.76 per share (6.9$64.05 [5].