BENSALEM, Pa. -- (Business Wire)
Law
Offices of Howard G. Smith announces an investigation on behalf of
investors of Cardiovascular Systems, Inc. ("CSII" or the "Company")
(NASDAQ: CSII) concerning the Company’s and its officers’ possible
violations of federal securities laws in connection with the issuing
potentially materially misleading information to investors.
On May 9, 2015, CSII revealed that it had received a letter from the
U.S. Attorney’s office stating that the Company was under investigation
for potential violations of the False Claims Act. Then, on July 8, 2015
the Company further revealed that it was the defendant in a
whistleblower lawsuit alleging the Company engaged in a fraudulent
kickback scheme, off-label promotion of its products and other
violations of government regulations and laws.
On October 7, 2015, CSII disclosed after trading hours that it expects
revenues of $43.9 million for the fiscal first quarter, well below prior
revenue guidance of between $48.5 to $50 million. On this news the
Company’s shares fell $3.01 per share, or 22%, to close on October 8,
2015 at $13.62 per share on volume of over 7 million shares.
If you purchased CSII securities and have suffered a loss, or if you
have information or would like to learn more about these claims, or have
any questions concerning this announcement or your rights or interests
with respect to these matters, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free
at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151009006001/en/
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Source: Law Offices of Howard G. Smith
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