Edwards Lifesciences Corporation (EW) Securities Class Action

The litigation is focused on the propriety of Edwards Lifesciences’ disclosures about its core product, the Transcatheter Aortic Valve Replacement  (“TAVR”) platform.

More specifically, throughout the Class Period, Edwards Lifesciences repeatedly assured investors that its TAVR platform was positioned for “strong sustainable growth” well into the future, it could “accelerate growth in 2025 and beyond[,]” TAVR could grow healthy double digit, and it could capitalize on the large percentage of undertreated patients with severe aortic stenosis.

The complaint alleges that the company made misleading statements and failed to disclose that: (i) it did not possess reliable information supportive of its TAVR revenue and growth outlook; (ii)
TAVR growth was at risk of decelerating; and (iii) its “patient activation activities” did not reach the low-treatment-rate population.

Investors learned the truth on July 24, 2024, when Edwards Lifesciences announced its Q2 2024 financial results.  Among other things, the company revealed that its TAVR sales grew just 5% and slashed its TAVR growth guidance to 5 to 7% from 8 to 10%.

The company blamed the TAVR setback on “[t]he continued growth and expansion of structural heart therapies, including newly approved tricuspid therapies and other fast-growing structural heart therapies put pressure on hospital workflows, which impacted TAVR.”

The next day, July 25, 2024, several analysts downgraded Edwards Lifesciences shares and reduced their price targets. One analyst wrote, “[m]anagement talked about physician capacity as the issue versus demand, but we struggle with that explanation [….] [b]ecause aortic stenosis has a higher mortality […] management looks to be implying that doctors could be prioritizing lower mortality patients over higher mortality ones – which we struggle to understand.”

These events drove the price of Edwards Lifesciences shares down $27.25 (-31%) on July 25, 2024, wiping out over $16 billion of shareholder value in a single day.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the EW securities class-action case about?

We are investigating whether Edwards Lifesciences may have misled investors about the true business and growth prospects for TAVR amid an apparently increasing competitive market.

WHAT SHOULD I DO?

I worked at EW. What should I do?

If you were an employee of EW, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in EW, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any EW investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.