Murray, Frank & Sailer LLP Filed Class Action Lawsuit Against Hansen Medical, Inc.
24 11월 2009 - 7:59AM
Business Wire
Murray, Frank & Sailer LLP filed a class action lawsuit,
civil case number 09-cv-05367-HRL, in the United States District
Court for the Northern District of California, San Jose division,
against Hansen Medical, Inc. (“Hansen” or the “Company”)
(NASDAQ:HNSN) and certain of its officers and directors, on behalf
of shareholders who purchased Hansen common stock between May 1,
2008 and October 18, 2009, inclusive (the “Class Period”).
Throughout the Class Period defendants violated federal
securities laws by issuing materially false and misleading
statements regarding the Company’s financial results and compliance
with Generally Accepted Accounting Principles. Specifically, the
defendants made false and/or misleading statements and/or failed to
disclose: (1) that the Company improperly recognized revenue; (2)
that, as a result, the Company’s revenue and financial results were
overstated during the Class Period; (3) that the Company’s
financial results were not prepared in accordance with Generally
Accepted Accounting Principles (“GAAP”); (4) that the Company
lacked adequate internal and financial controls; and (5) that, as a
result of the above, the Company’s financial statements were
materially false and misleading at all relevant times.
On October 19, 2009, Hansen announced that as a result of its
audit committee investigation it would restate its 2008 financial
statements and financial statements for the first and second
quarters of 2009 due to errors arising from “potential
irregularities outside of the accounting department.” According to
the Company, Hansen identified systems for which revenue should
have been recognized in a later period than the period in which it
was recognized, and revenue on systems that should have been
reflected as deferred revenue on its balance sheet as of June 30,
2009. As a result of this news, the price of Hansen shares declined
$0.31 per share, more than 9%, to close on October 19, 2009, at
$3.12 per share, on unusually heavy trading volume.
Plaintiff seeks to recover damages on behalf of class members
and is represented by Murray, Frank & Sailer LLP, a law firm
with extensive experience in prosecuting shareholder lawsuits. For
more information about the firm, please visit its website at:
www.murrayfrank.com.
If you are a member of the class described above, you may move
the Court, not later than December 22, 2009, to serve as Lead
Plaintiff for the class. A Lead Plaintiff is a representative
chosen by the Court who acts on behalf of other class members in
directing the litigation. You do not need to be a Lead Plaintiff to
be included in the class. If you purchased Hansen common stock and
wish to discuss this litigation, or have any questions concerning
this Notice or your rights or interests with respect to these
matters, please contact us.
Hansen Medical, Inc. (MM) (NASDAQ:HNSN)
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Hansen Medical, Inc. (MM) (NASDAQ:HNSN)
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