TransMedics(US:TMDX) Prnewswireยท2025-03-06 16:40Core Viewpoint - A securities class action lawsuit has been filed against TransMedics Group, Inc. for allegedly misleading investors regarding business practices and safety issues during the Class Period from February 28, 2023, to January 10, 2025 [1][3]. Company Overview - TransMedics Group, Inc. is a medical technology company based in Andover, Massachusetts, specializing in transplant services, including the Organ Care System (OCS), which is a portable organ preservation system [2]. Allegations - The lawsuit claims that TransMedics engaged in unethical practices, including kickbacks, fraudulent overbilling, and coercive tactics to generate revenue [3]. - It is also alleged that the company concealed safety issues and lacked proper safety oversight [3]. Impact on Stock Price - Following the revelation of these allegations, TransMedics' stock price dropped significantly. On February 22, 2024, the stock fell by $2.18 (2.5%) to close at $84.81 after a letter from U.S. Rep. Paul Gosar accused the company of misappropriating resources [4]. - On January 10, 2025, after a report from Scorpion Capital, the stock fell by $3.74 (5%) to close at $68.81, and further declined by $4.76 (6.9%) to close at $64.05 on January 13, 2025 [5].