Neovasc Announces Complete Dismissal of Securities Class Action Complaint with Prejudice
03 February 2022 - 1:05AM
via NewMediaWire -- Neovasc Inc. (“Neovasc” or the “Company”)
(NASDAQ, TSX: NVCN), today announced the complete
dismissal of the consolidated amended complaint in the shareholder
class action case captioned In re Neovasc Inc. Securities
Litigation, Case No. 7:20-cv-09313, filed in the United States
District Court for the Southern District of New York. The
consolidated amended complaint was dismissed in its entirety with
prejudice and without leave to amend.
“From the beginning, we committed to vigorously defend against
these allegations,” said Fred Colen, Chief Executive Officer
of Neovasc. “We could not be more pleased with the
Court’s decision to completely dismiss this action with prejudice,
which is a clear rejection of the claims advanced in this
litigation. We intend to continue to focus on our important
mission of creating better outcomes for difficult-to-treat
cardiology patients as we move forward.”
About Neovasc Inc.
Neovasc is a specialty medical device company that
develops, manufactures, and markets products for the rapidly
growing cardiovascular marketplace. Its products include Reducer,
for the treatment of refractory angina, which is not currently
commercially available in the United States and has been
commercially available in Europe since 2015, and Tiara™ for the
transcatheter treatment of mitral valve disease, which is currently
under clinical investigation in the United States, Canada, Israel
and Europe. For more information,
visit: www.neovasc.com.
Contacts
Investors:
Mike Cavanaugh
ICR Westwicke
Phone: +1.617.877.9641
Email: Mike.Cavanaugh@westwicke.com
Media:
Sean Leous
ICR Westwicke
Phone: +1.646.866.4012
Email: Sean.Leous@westwicke.com
Forward-Looking Statement Disclaimer
Certain statements in this news release contain
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws that may not be based on historical fact. When used
herein, the words "expect", "anticipate", "estimate", "may",
"will", "should", "intend," "believe", and similar expressions, are
intended to identify forward-looking statements. Forward-looking
statements may involve, but are not limited to, the growing
cardiovascular marketplace. 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, market and other
conditions as well as other factors that the Company believes are
appropriate in the circumstances. Many factors could cause the
Company's actual results, performance or achievements to differ
materially from those expressed or implied by the forward-looking
statements, including those described in the "Risk Factors" section
of the Company's Annual Information Form and in the Management's
Discussion and Analysis for the three and nine months ended
September 30, 2021 (copies of which 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.
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