SAN DIEGO, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Edwards Lifesciences Corporation (NYSE: EW) securities between February 6, 2024 and July 24, 2024, inclusive (the “Class Period”), have until Friday, December 13, 2024 to seek appointment as lead plaintiff of the Edwards Lifesciences class action lawsuit. Captioned Patel v. Edwards Lifesciences Corporation, No. 24-cv-02221 (C.D. Cal.), the Edwards Lifesciences class action lawsuit charges ...

NEW YORK, Nov. 7, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Edwards Lifesciences Corporation (NYSE: EW).Shareholders who purchased shares of EW during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/edwards-lifesciences-loss-submission-form/?id=110877&from=4CLASS PERIOD: Februa ...

Core Viewpoint - A class action lawsuit has been filed against Edwards Lifesciences Corp for allegedly misleading investors regarding the expected revenue growth of its Transcatheter Aortic Valve Replacement (TAVR) platform during the fiscal year 2024 [1][3]. Company Performance - Edwards Lifesciences provided optimistic projections about its TAVR platform, emphasizing strong demand and growth potential in under-penetrated markets [3]. - On July 24, 2024, the company reported disappointing financial results for Q2 2024 and significantly reduced its revenue guidance for the TAVR platform for the entire fiscal year [4]. - The company attributed the decline in TAVR performance to increased competition from its own new therapies, which strained hospital resources [4]. Market Reaction - Following the announcement of the poor financial results and revised guidance, Edwards' stock price plummeted from $86.95 to $59.70 per share, marking a decline of approximately 31.34% in just one day [5].

Part I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Unaudited Q3 2024 financial statements reflect financial position, operations, and cash flows, impacted by Critical Care business sale and strategic acquisitions [Consolidated Condensed Balance Sheets](index=4&type=section&id=Consolidated%20Condensed%20Balance%20Sheets) As of September 30, 2024, total assets increased to **$13.0 billion**, driven by a rise in cash to **$3.7 billion** from the Critical Care business sale Consolidated Condensed Balance Sheet Highlights (in millions) | Account | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $3,676.4 | $1,132.3 | | Total current assets | $6,727.7 | $4,035.7 | | Goodwill | $1,605.3 | $1,145.1 | | Total assets | $12,971.2 | $9,363.2 | | **Liabilities & Equity** | | | | Total current liabilities | $1,944.1 | $1,195.4 | | Total liabilities | $3,359.8 | $2,643.8 | | Retained earnings | $12,781.4 | $8,992.4 | | Total stockholders' equity | $9,611.4 | $6,719.4 | [Consolidated Condensed Statements of Operations](index=5&type=section&id=Consolidated%20Condensed%20Statements%20of%20Operations) Q3 2024 net sales from continuing operations grew to **$1.35 billion**, with net income exceptionally high at **$3.07 billion** due to **$2.71 billion** from discontinued operations Q3 2024 vs Q3 2023 Performance (in millions, except EPS) | Metric | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Net sales | $1,354.4 | $1,243.4 | | Gross profit | $1,091.5 | $992.8 | | Operating income, net | $350.6 | $365.9 | | Net income from continuing operations | $362.1 | $334.9 | | Income from discontinued operations, net of tax | $2,707.3 | $48.8 | | Net income attributable to Edwards | $3,070.8 | $384.9 | | Diluted EPS | $5.13 | $0.63 | Nine Months 2024 vs 2023 Performance (in millions, except EPS) | Metric | Nine Months 2024 | Nine Months 2023 | | :--- | :--- | :--- | | Net sales | $4,053.7 | $3,743.6 | | Gross profit | $3,228.4 | $3,016.2 | | Operating income, net | $1,066.1 | $962.1 | | Net income from continuing operations | $1,051.0 | $886.9 | | Income from discontinued operations, net of tax | $2,734.4 | $142.8 | | Net income attributable to Edwards | $3,789.0 | $1,032.5 | | Diluted EPS | $6.29 | $1.69 | [Consolidated Condensed Statements of Cash Flows](index=7&type=section&id=Consolidated%20Condensed%20Statements%20of%20Cash%20Flows) Nine months ended September 30, 2024, net cash from operating activities was **$669.8 million**, with investing activities providing **$2.89 billion** from a business sale, and financing activities using **$1.01 billion** Cash Flow Summary - Nine Months Ended Sep 30 (in millions) | Cash Flow Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $669.8 | $759.2 | | Net cash provided by investing activities | $2,889.6 | $159.7 | | Net cash used in financing activities | ($1,011.6) | ($297.8) | | **Net increase in cash** | **$2,535.4** | **$641.3** | - The primary driver of investing cash flow was the **$3.93 billion** received from the sale of a business, while financing activities were dominated by **$1.06 billion** in treasury stock purchases[15](index=15&type=chunk) [Notes to Consolidated Condensed Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Condensed%20Financial%20Statements) Notes detail significant accounting policies and events, including the **$4.2 billion** Critical Care business sale, strategic acquisitions, ongoing litigation, a major tax dispute, and strong segment performance - The historical results of the Critical Care product group have been reclassified to discontinued operations for all periods presented following its sale on September 3, 2024[23](index=23&type=chunk) - On September 3, 2024, the Critical Care business was sold for **$4.2 billion**, resulting in a pre-tax gain of **$3.3 billion**, which is included in Income from Discontinued Operations[45](index=45&type=chunk) - The company acquired Endotronix, Inc. on August 19, 2024, for a total purchase price of **$800.0 million**, and JC Medical, Inc. on July 22, 2024, for **$116.3 million** plus potential milestone payments[67](index=67&type=chunk)[70](index=70&type=chunk)[73](index=73&type=chunk) - The company is contesting a Notice of Deficiency from the IRS for the 2015-2017 tax years seeking an additional **$269.3 million** in tax related to transfer pricing. The company has made deposits totaling **$380 million** to mitigate interest but has not accrued additional amounts, believing its position is appropriate[129](index=129&type=chunk)[130](index=130&type=chunk) - In October 2024, subsequent to the quarter's end, the company acquired Innovalve Bio Medical Limited for an aggregate cash purchase price of **$300.0 million**[140](index=140&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses strategic shift to structural heart disease following **$4.2 billion** Critical Care business sale, with YTD net sales up **8.3%** to **$4.1 billion**, bolstered liquidity, and ongoing tax disputes - The sale of the Critical Care business for **$4.2 billion** enables a sharpened focus on TAVR, TMTT, Surgical, and new investments in interventional heart failure technologies[144](index=144&type=chunk) YTD 2024 vs YTD 2023 Net Sales by Product Group (in millions) | Product Group | YTD 2024 | YTD 2023 | % Change | | :--- | :--- | :--- | :--- | | Transcatheter Aortic Valve Replacement | $3,069.8 | $2,900.4 | 5.8% | | Transcatheter Mitral and Tricuspid Therapies | $247.0 | $141.6 | 74.4% | | Surgical Structural Heart | $736.9 | $701.6 | 5.0% | | **Total net sales** | **$4,053.7** | **$3,743.6** | **8.3%** | - Liquidity is strong, with **$4.1 billion** in cash and cash equivalents held in the U.S. as of September 30, 2024. The company repurchased **15.0 million** shares for **$1.2 billion** YTD and has **$1.4 billion** remaining under its repurchase authorization[182](index=182&type=chunk)[184](index=184&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to primary market risks, including interest rate, foreign currency, and credit risk, but highlights investment risk from **$944.7 million** in debt securities and **$144.6 million** in equity instruments - There have been no material changes to the company's exposure to interest rate risk, foreign currency risk, or credit risk since the year-end 2023 report[193](index=193&type=chunk) - The company is exposed to investment risk from its portfolio, which includes **$944.7 million** in debt securities and **$144.6 million** in equity investments as of September 30, 2024[194](index=194&type=chunk) [Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of September 30, 2024, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that as of September 30, 2024, the company's disclosure controls and procedures are effective at a reasonable assurance level[195](index=195&type=chunk) - No changes occurred in internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[196](index=196&type=chunk) Part II. OTHER INFORMATION [Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) Company involved in several legal matters, including a new securities class action lawsuit, ongoing patent infringement claims, and a European Commission investigation into business practices - A new putative securities class action complaint was filed against the company and certain executives on October 14, 2024, alleging violations of securities laws[112](index=112&type=chunk) - The company is being investigated by the European Commission regarding certain business practices, including its anti-copycat policy and patent practices[111](index=111&type=chunk) - In September 2024, the SEC informed the company it is not recommending an enforcement action related to a previously disclosed internal investigation into potential FCPA violations[109](index=109&type=chunk) [Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors previously disclosed in its 2023 Annual Report on Form 10-K and its Q2 2024 Quarterly Report on Form 10-Q - No material changes to the company's risk factors have occurred since the last quarterly filing[199](index=199&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 2024, company repurchased approximately **13.3 million** shares for about **$900 million**, augmented by a **$1.5 billion** authorization and a **$500 million** ASR Issuer Purchases of Equity Securities (Q3 2024) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Jul 2024 | 444,999 | $62.91 | | Aug 2024 | 6,741,892 | $66.81 | | Sep 2024 | 6,108,421 | $68.99 | | **Total** | **13,295,312** | **$67.68** | - In August 2024, the Board of Directors approved an additional **$1.5 billion** for the stock repurchase program. In the same month, the company entered into a **$500.0 million** accelerated share repurchase (ASR) agreement[200](index=200&type=chunk) [Other Information](index=47&type=section&id=Item%205.%20Other%20Information) During Q3 2024, CFO Scott B. Ullem adopted a Rule 10b5-1 trading plan for **56,250** shares, while CEO Bernard J. Zovighian terminated his 10b5-1 plan - On August 19, 2024, CFO Scott B. Ullem adopted a Rule 10b5-1 trading plan for the potential sale of **56,250** shares[201](index=201&type=chunk) - On September 23, 2024, CEO Bernard J. Zovighian terminated his Rule 10b5-1 trading plan[202](index=202&type=chunk) [Exhibits](index=48&type=section&id=Item%206.%20Exhibits) Exhibits filed with Form 10-Q include corporate documents, CEO and CFO certifications, and XBRL data files for interactive data submission - Exhibits filed include CEO and CFO certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act[204](index=204&type=chunk)

Core Insights - The Gross Law Firm has issued a notice to shareholders of Edwards Lifesciences Corporation regarding a potential class action lawsuit related to misleading statements about the company's revenue expectations for fiscal year 2024 [1][2]. Group 1: Allegations and Financial Impact - The allegations state that Edwards Lifesciences provided investors with misleading information about the expected revenue growth of its core product, Transcatheter Aortic Valve Replacement (TAVR), during the class period from February 6, 2024, to July 24, 2024 [2]. - On July 24, 2024, Edwards reported disappointing financial results for Q2 2024 and significantly reduced its revenue guidance for the TAVR platform for the full fiscal year 2024, attributing the decline to increased pressure on hospital workflows from the growth of other structural heart therapies [2]. - Following the announcement, Edwards' stock price plummeted from $86.95 per share on July 24, 2024, to $59.70 per share on July 25, 2024, marking a decline of approximately 31.34% in just one day [2]. Group 2: Next Steps for Shareholders - Shareholders who purchased shares during the specified class period are encouraged to register for the class action, with a deadline set for December 13, 2024, to seek lead plaintiff status [3]. - Registered shareholders will be enrolled in a portfolio monitoring system to receive updates throughout the case lifecycle [3]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered losses due to deceitful practices and misleading statements by companies [4].

NEW YORK, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Edwards Lifesciences Corporation (NYSE:EW) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Edwards Lifesciences, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/edwards-lifesciences-corporation. Investors have until December 13, 2 ...

Core Viewpoint - A class action lawsuit has been filed against Edwards Lifesciences Corporation for allegedly misleading investors about the growth of its Transcatheter Aortic Valve Replacement (TAVR) platform during the specified period [1][2]. Allegations - The lawsuit claims that Edwards Lifesciences provided overly positive statements regarding TAVR's growth while concealing material adverse facts about its true performance [2]. - The company is accused of overestimating the treatment rate population and the commitment of hospitals to TAVR procedures compared to newer alternatives [2]. Financial Impact - On July 24, 2024, Edwards reported disappointing second-quarter financial results and reduced its revenue guidance for the TAVR platform for the full fiscal year 2024 [3]. - The company attributed the TAVR setback to the growth of structural heart therapies affecting hospital workflows [3]. - Following the announcement, Edwards' stock price fell from $86.95 to $59.70, a decline of approximately 31.34% [3]. Legal Proceedings - Shareholders interested in participating in the class action must submit their application by December 13, 2024, to serve as lead plaintiff [4]. - Participation in the case is not required to be eligible for recovery as an absent class member [4]. Company Background - Robbins LLP, the law firm handling the case, has a history of litigating securities class actions and has recovered over $1 billion for shareholders since its inception [5].

RADNOR, Pa., Nov. 05, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Central District of California against Edwards Lifesciences Corporation (“Edwards”) (NYSE: EW) on behalf of investors who purchased or otherwise acquired Edwards securities between February 6, 2024 and July 24, 2024, inclusive (the “Class Period”) The lead plaintiff deadline is Dece ...

Core Viewpoint - The article discusses a class action lawsuit against Edwards Lifesciences Corporation, alleging violations of the Securities Exchange Act of 1934 by the company and its executives during a specified class period. Group 1: Lawsuit Details - The class action lawsuit is titled Patel v. Edwards Lifesciences Corporation, No. 24-cv-02221 (C.D. Cal.), and it involves purchasers of Edwards Lifesciences securities from February 6, 2024, to July 24, 2024 [1] - Investors have until December 13, 2024, to seek appointment as lead plaintiff in the lawsuit [1] - The lawsuit alleges that Edwards Lifesciences made false or misleading statements regarding its revenue outlook and growth potential, particularly concerning its Transcatheter Aortic Valve Replacement (TAVR) product [4][3] Group 2: Allegations Against the Company - The lawsuit claims that the defendants created a false impression of reliable information regarding projected revenue and growth while downplaying risks from seasonality and macroeconomic factors [4] - It is alleged that TAVR's growth was at risk of deceleration, and the company's optimistic reports did not align with actual performance, particularly in the second quarter of 2024 [4] - On July 24, 2024, Edwards Lifesciences disclosed TAVR results that fell below expectations and lowered its fiscal year 2024 projections, leading to a stock price drop of over 31% [5] Group 3: Legal Process and Firm Background - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Edwards Lifesciences securities during the class period to seek lead plaintiff status [6] - Robbins Geller Rudman & Dowd LLP is the law firm representing investors in this case, known for securing significant monetary relief for investors in securities fraud cases [7]

Core Viewpoint - Edwards Lifesciences Corporation is facing a class action securities lawsuit due to alleged securities fraud that impacted investors between February 6, 2024, and July 24, 2024 [1] Group 1: Lawsuit Details - The lawsuit claims that the defendants misled investors regarding Edwards' expected revenue for fiscal year 2024, particularly concerning the growth of the Transcatheter Aortic Valve Replacement (TAVR) platform [2] - On July 24, 2024, Edwards reported disappointing financial results for Q2 2024 and significantly reduced its revenue guidance for the TAVR platform for the full fiscal year 2024 [2] - The company attributed the TAVR setback to the growth of structural heart therapies, which strained hospital workflows and led to underutilization of TAVR despite claims of an undertreated patient population [2] Group 2: Market Reaction - Following the announcement of the financial results and revenue guidance cut, Edwards' stock price plummeted from $86.95 per share on July 24, 2024, to $59.70 per share on July 25, 2024, marking a decline of approximately 31.34% in one day [2] Group 3: Next Steps for Investors - Investors who suffered losses during the relevant period have until December 13, 2024, to request appointment as lead plaintiff in the lawsuit [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees [3] Group 4: Firm Background - Levi & Korsinsky has a history of securing significant settlements for shareholders and has been recognized as one of the top securities litigation firms in the United States [4]