Workflow
TUESDAY DEADLINE: Berger Montague Advises TransMedics Group (NASDAQ: TMDX) Investors to Inquire About a Securities Fraud Class Action by April 15, 2025
TMDXTransMedics(TMDX) Prnewswire·2025-04-12 12:33

Core 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 its Organ Care System (OCS), which is a portable organ preservation system [2]. Allegations - The lawsuit claims that TransMedics and its executives misled investors by failing to disclose the use of kickbacks, fraudulent overbilling, and coercive tactics to generate revenue [3]. - Additionally, it is alleged that the company concealed safety issues and a lack of safety oversight within the organization [3]. Impact on Stock Price - Following the revelation of these issues, TransMedics' stock price fell by 2.18(2.52.18 (2.5%) to 84.81 on February 22, 2024, after U.S. Rep. Paul Gosar's accusations [4]. - On January 10, 2025, after a report from Scorpion Capital, the stock dropped by 3.74(53.74 (5%) to 68.81, and further declined by 4.76(6.94.76 (6.9%) to close at 64.05 on January 13, 2025 [5].