NASDAQ: NVCN
TSX: NVC
VANCOUVER, Nov. 23, 2016 /PRNewswire/ - Neovasc Inc.
("Neovasc" or the "Company") (NASDAQ: NVCN) (TSX:
NVC) announced today that the United States District Court for the
District of Massachusetts granted
the Company's motion to dismiss with prejudice in the case of
Grobler v. Neovasc Inc, et al., Civil Action No. 16-11038-RGS, a
putative securities class action that was filed on June 6, 2016 against the Company and certain of
the Company's officers.
The Court ruled in favor of the Company and its officers on all
claims and ordered the entire case closed. The Company is not
aware as to whether, and presently cannot foresee whether, the
plaintiff will appeal the dismissal of his claims or will file any
post-dismissal motions.
About Neovasc Inc.
Neovasc is a specialty medical device company that develops,
manufactures and markets products for the rapidly growing
cardiovascular marketplace. Its products in development
include the Tiara™, for the transcatheter treatment of mitral valve
disease and the Neovasc Reducer™ for the treatment of refractory
angina. The Company also sells a line of advanced biological tissue
products that are used as key components in third-party medical
products including transcatheter heart valves. For more
information, visit: www.neovasc.com.
This news release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and applicable Canadian securities laws, including statements
regarding any future developments in the class action litigation,
including any potential appeals and post-dismissal motions.
The words "cannot foresee" and "will" are intended to
identify these forward-looking statements. Forward-looking
statements are based on estimates and assumptions made by the
Company in light of its experience and its perception of historical
trends, current conditions and expected future developments, as
well as other factors that the Company believes are appropriate in
the circumstances. Many factors and assumptions could cause
the Company's actual results, performance or achievements to differ
materially from those expressed or implied by the forward-looking
statements, including, without limitation, potential changes in
circumstances relating to litigation involving the Company, whether
as a result of unforeseen circumstances or otherwise; and the
conduct or possible outcomes of any actual or threatened legal
proceedings, including any post-dismissal motions or appeals, which
are inherently uncertain. Risk factors concerning the class action
litigation and others relating to the Company were previously
discussed in greater detail in the "Risk Factors" section of the
Company's Annual Information Form, which is included in its Annual
Report on Form 40-F (copies of which filings may be obtained
at www.sedar.com or www.sec.gov). These
factors should be considered carefully, and readers should not
place undue reliance on the Company's forward-looking
statements. The Company has no intention and undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
SOURCE Neovasc Inc.