Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Edwards Lifesciences Corporation (EW)

Core Insights - Edwards Lifesciences Corporation is facing a class action lawsuit due to alleged misleading statements and failure to disclose material adverse facts regarding its business and operations during the Class Period from February 6, 2024, to July 24, 2024 [1][3] Financial Performance - On July 24, 2024, Edwards Lifesciences reported fiscal second quarter 2024 results that fell below expectations and lowered projections for its core Transcatheter Aortic Valve Replacement (TAVR) platform for the full fiscal year 2024 [2] - Following the announcement, the stock price of Edwards Lifesciences dropped by $27.25, or 31.34%, closing at $59.70 per share on July 25, 2024 [2] Allegations in the Lawsuit - The class action complaint alleges that the Company did not have reliable information regarding projected revenue and growth, and that its growth was at risk of deceleration [3] - It is claimed that the Company's "patient activation activities" did not effectively target the low-treatment-rate population necessary for TAVR's growth, and that the Company overstated hospital interest in TAVR procedures compared to newer structural heart therapies [3] - The lawsuit asserts that the positive statements made by the Company about its business and prospects were materially misleading and lacked a reasonable basis [3]