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Case Status:    DISMISSED    
On or around 01/12/2017 (Other)

Filing Date: June 06, 2016

According to the law firm press release, Neovasc is a specialty medical company that develops, manufactures and markets cardiovascular products. The Company's main product is the Tiara, a transcatheter mitral valve device used to treat mitral valve disease. The Tiara, which the Company started developing in the second quarter of 2011, can be implanted through minimally invasive surgery to individuals who experience mitral regurgitation as a result of mitral heart valve disease.

The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (i) that the Company's Tiara device was developed through unlawful business practices, including the misappropriation of trade secrets from another company; (ii) that a related lawsuit against Neovasc regarding the misappropriation of trades secrets had merit; and (iii) 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 November 22, 2016, the Court issued an Order granting Defendants' Motion to Dismiss and closing this case.


Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: Canada


Ticker Symbol: NVCN
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Massachusetts
DOCKET #: 16-CV-11038
JUDGE: Hon. Richard G. Stearns
DATE FILED: 06/06/2016
CLASS PERIOD END: 05/19/2016
  1. Saxena White PA (Boca Raton)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available