Shoemaker v. Cardiovascular Systems, Inc.

Updated: April 26, 2016
Status: Ongoing Case
On April 26, 2016, Labaton Sucharow was appointed co-lead counsel in this securities fraud class action against Cardiovascular Systems, Inc., and two of its executives on behalf of all purchasers of Cardiovascular Systems, Inc. securities from September 12, 2011 through January 21, 2016. Cardiovascular Systems, Inc. is a manufacturer of medical devices for the treatment of peripheral and coronary arterial diseases.

Lead plaintiff alleges that the defendants made materially misleading statements and omissions by failing to disclose that the company relied upon illegal kickbacks, off-label promotions, and other violations of applicable laws and regulations in order to drive sales of its products.

The case is Shoemaker v. Cardiovascular Systems, Inc., No. 16-cv-00568 (D. Minn.). Lead plaintiff is Norfolk County Retirement System, Wayne County Employees’ Retirement System, and City of Miami Fire Fighters’ & Police Officers’ Retirement Trust.