BENSALEM, Pa.--(BUSINESS WIRE)--Oct 5, 2018--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Nevro Corporation (“Nevro” or the “Company”) (NYSE: NVRO ) securities between January 8, 2018 and July 12, 2018, inclusive (the “Class Period”). Nevro investors have until October 22, 2018, to file a lead plaintiff motion.
Investors that suffered losses on their Nevro investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
In April 2017, Boston Scientific Corp. filed an action against Nevro, asserting claims of patent infringement, theft of trade secrets and tortious interference with contract by recruiting and hiring dozens of former Boston Scientific Corp. employees.
Then, on July 10, 2018, various analysts reported on a tentative ruling in Nevro’s ongoing patent litigation against Boston Scientific. The tentative ruling invalidated at least five of the patents related to Nevro’s purportedly “proprietary” HF10 therapy and Senza systems. On this news, shares of Nevro fell $11.43 per share, or 15.15%, to close at $64.04 on July 10, 2018, thereby injuring investors.
The Complaint filed in this class action alleges that the Company made false and misleading statements to the market. Nevro developed its Senza I and II systems using proprietary and confidential trade secrets along with stolen documents fraudulently obtained from competitors. Based on this, the Company’s Senza I and II systems were neither “proprietary” nor “novel.” Nevro’s business practices made it vulnerable to legal and regulatory actions, and its sales growth was not sustainable. Based on these facts, the Company’s public statements about its business, operations, and future prospects were false and materially misleading throughout the class period.
If you purchased shares of Nevro during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181005005484/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2018.
PUB: 10/05/2018 03:21 PM/DISC: 10/05/2018 03:21 PM