This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Law Offices of Howard G. Smith, Representing Investors of Hansen Medical, Inc., Announces Class Action Lawsuit 2009-10-26 15:50 ET - News Release
BENSALEM, Pa. -- (Business Wire)
Law Offices of Howard G. Smith, representing investors of Hansen
Medical, Inc. (“Hansen” or the “Company”) (Nasdaq:HNSN), has filed a
class action lawsuit in United States District Court on behalf of a
class (the “Class”) consisting of all persons or entities who purchased
the securities of Hansen between May 1, 2008 and October 18, 2009,
inclusive (the “Class Period”). The class action lawsuit was filed in
the United States District Court for the Northern District of California.
The Complaint charges the Company and certain of its executive officers
with violations of federal securities laws. Hansen develops products and
technology using robotics for the accurate positioning, manipulation and
control of catheters and catheter-based technologies. The Complaint
alleges that defendants knew or recklessly disregarded that their public
statements concerning Hansen’s business, operations and prospects were
materially false and misleading. Specifically, throughout the Class
Period defendants made false and/or misleading statements and/or failed
to disclose that: (1) the Company improperly recognized revenue; (2) as
a result, the Company’s revenue and financial results were overstated
during the Class Period; (3) the Company’s financial results were not
prepared in accordance with Generally Accepted Accounting Principles;
(4) the Company lacked adequate internal and financial controls; and
(5), as a result of the above, the Company's financial statements were
materially false and misleading at all relevant times.
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