An investor in NASDAQ:NVCN shares filed a lawsuit over alleged violations of Federal Securities Laws by Neovasc Inc in connection with certain allegedly false and misleading statements.
Shares of Neovasc Inc (US) (NASDAQ:NVCN) declined from $9.90 per share in February 2015 to as low as $0.37 per share on May 20, 2016.
Investors who purchased shares of Neovasc Inc (US) (NASDAQ:NVCN) have certain options and for certain investors are short and strict deadlines running. Deadline: August 5, 2016. NASDAQ:NVCN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that between January 26, 2015, and May 19, 2016 the Defendants made false and/or misleading statements and/or failed to disclose that Neovasc Inc’s Tiara device was developed through unlawful business practices, including the misappropriation of trade secrets from another company, that a related lawsuit against Neovasc Inc regarding the misappropriation of trades secrets had merit, and that, as a result of the above, Defendants’ statements about Neovasc’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On May 29, 2016, Neovasc Inc announced that following a trial in Boston, Massachusetts a jury found in favor of CardiAQ, on CardiAQ’s claims for relief for breach of contract, breach of the duty of honesty in contractual performance, and three of CardiAQ’s six asserted trade secrets. Neovasc Inc announced that the jury also issued advisory findings in favor of CardiAQ regarding its causes of action under Massachusetts Gen. Law. Ch. 93A and patent inventorship, and that the jury awarded US $70 million on the trade secret claim for relief, and no damages on the contractual claims for relief.
On June 20, 2016, NASDAQ:NVCN shares closed at $0.845 per share.
Those who purchased NASDAQ:NVCN shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com