NEW YORK, Nov. 21, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Neovasc Inc. (“Neovasc” or the “Company”) (NASDAQ: NVCN). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Neovasc and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 28, 2020, before the market opened, Neovasc announced that a U.S. Food and Drug Administration advisory panel had voted overwhelmingly against the safety and effectiveness of the Company’s Reducer product, a medical device that treats refractory angina by altering blood flow in the heart’s circulatory system. The panel noted concerns with the Company’s clinical data, including “that the lack of blinding assessment made the primary endpoint difficult to interpret.” As a result, the panel reached a consensus “that additional premarket randomized clinical data was necessary.”
On this news, Neovasc’s stock price fell $0.77 per share, or approximately 42%, to close at $1.06 per share on October 28, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980