TMDX Class Action: Potential Securities Law Violations at TransMedics Group, Inc.

NEW YORK, March 04, 2025 (GLOBE NEWSWIRE) -- Bleichmar Fonti & Auld LLP, a respected securities law firm, has announced that a class action lawsuit has been filed against TransMedics Group, Inc. (NASDAQ: TMDX) along with several of the company's senior executives. This lawsuit alleges potential violations of federal securities laws.

If you have invested in TransMedics, it is recommended that you gather further information by visiting this link.

Investors have until April 15, 2025, to file a motion for lead plaintiff in the case. The complaint raises claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, representing those who purchased TransMedics securities. The case is currently pending in the U.S. District Court for the District of Massachusetts and is identified as Jewik v. TransMedics Group, Inc. et al, No. 25-cv-10385.

Basis for the Lawsuit

TransMedics is a company that focuses on medical technology. Its flagship product, the "Organ Care System" (OCS), is designed to preserve donor organs for transplantation by mimicking the organ's natural living conditions outside the human body.

The legal complaint alleges that TransMedics has misrepresented the nature of its business operations, claiming involvement in kickbacks, fraudulent billing, and coercive tactics. The suit also contends that the company engaged in unsafe practices related to the OCS and concealed significant safety issues.

Impact on Stock Value

The value of TransMedics stock began to decline after alarming reports emerged. On February 21, 2024, a U.S. Congressman, Paul Gosar, released a letter accusing the company of misconduct including improper overcharging for OCS and misusing company resources. This led to a notable price drop of approximately 4%, from $86.99 per share down to $83.14 over two trading days.

Additionally, on December 2, 2024, TransMedics announced the resignation of its Chief Financial Officer and revised its financial forecasts for the upcoming year. Then, on January 10, 2025, Scorpion Capital published a research report alleging that TransMedics' growth stemmed from anti-competitive practices, claiming it provided kickbacks to medical professionals to promote its products. This report further led to a decline of 5% in share value, with the stock dropping from $72.55 to $68.81 per share.

Take Action

If you have invested in TransMedics, you may have legal options available to you. It is advisable to share your information with the firm handling this lawsuit.

All representations will operate on a contingency fee basis, ensuring that there will be no upfront costs for shareholders. Investors will not be liable for any legal expenses that arise during litigation. The firm will seek court approval for any fees and associated costs.

For further details, you can visit this link.

About Bleichmar Fonti & Auld LLP

Bleichmar Fonti & Auld LLP is recognized as an international law firm that specializes in representing plaintiffs in securities class action cases and shareholder litigation. It has gained recognition as one of the Top 5 plaintiff law firms by ISS SCAS in 2023. The firm has achieved notable successes, including recovering over $900 million from Tesla's Board of Directors and $420 million from Teva Pharmaceutical Industries.

For more information about the firm and its attorneys, please visit their website.

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lawsuit, investment, securities