Edwards Lifesciences Faces Class Action After Significant Market Loss

SAN FRANCISCO, Dec. 01, 2024 (GLOBE NEWSWIRE) -- Hagens Berman is reaching out to investors of Edwards Lifesciences Corporation EW who have experienced substantial losses, urging them to report their losses now.

Class Action Lawsuit Against Edwards Lifesciences Corporation (EW):

The ongoing legal action primarily addresses the accuracy of Edwards Lifesciences' statements regarding its key product, the Transcatheter Aortic Valve Replacement ("TAVR") platform.

Throughout the designated period for the class action, Edwards Lifesciences consistently reassured investors that its TAVR platform was set for "strong sustainable growth" in the future, suggesting that it could "accelerate growth in 2025 and beyond," and projected healthy double-digit growth by tapping into a significant number of undertreated patients suffering from severe aortic stenosis.

The lawsuit claims that the company misled investors by failing to disclose crucial information, including: (i) the lack of reliable data supporting its TAVR revenue and growth forecasts; (ii) potential risks of a slowdown in TAVR growth; and (iii) the inadequacy of its patient activation campaigns to engage the low-treatment-rate population.

The truth surfaced on July 24, 2024, when Edwards Lifesciences released its Q2 2024 financial outcomes. The results revealed a mere 5% growth in TAVR sales, alongside a drastic cut in its growth forecast for TAVR, reducing it from 8-10% to just 5-7%.

The company attributed this decline in TAVR sales to the "continuing growth and expansion of structural heart therapies," which included newly approved treatments for tricuspid conditions, all of which reportedly affected hospital operations negatively.

Subsequently, on July 25, 2024, multiple analysts downgraded Edwards Lifesciences' stock and lowered their price targets. One analyst questioned the company's comments about physician capacity being a limiting factor rather than demand, stating, "management talked about physician capacity as the issue versus demand, but we struggle with that explanation …. because aortic stenosis has a higher mortality.”

These revelations led to a dramatic drop in the stock price of Edwards Lifesciences, decreasing by $27.25 (31%) on July 25, 2024, resulting in the loss of over $16 billion in market capitalization in just one day.

Reed Kathrein, a partner at Hagens Berman, stated, "We're investigating whether Edwards Lifesciences misled investors regarding the actual business and growth forecasts for TAVR amid an increasingly competitive market."

If you have invested in Edwards Lifesciences and suffered substantial losses, or if you have information that could assist the investigation, please submit your losses now.

For more details and answers to common questions regarding the Edwards Lifesciences case and the ongoing investigation, please read further.

Whistleblowers: Individuals with insider information about Edwards Lifesciences are encouraged to consider assisting in the investigation or exploring the SEC Whistleblower program. Those providing original information could earn rewards up to 30% of any successful recovery made by the SEC. For inquiries, please contact Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman

Hagens Berman is a prominent plaintiffs' rights litigation firm dedicated to corporate accountability. The firm has a solid practice in representing investors, whistleblowers, employees, consumers, and others seeking justice for corporate misconduct and negligence. Hagens Berman has successfully recovered more than $2.9 billion in related legal matters, and further information can be found on their website. Follow Hagens Berman for updates on social media.

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