On or around 10/05/2018 (Other)
Filing Date: January 03, 2017
According to the law firm press release, the lawsuit alleges throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Endologix did not have the requisite clinical data for FDA premarket approval of its Nellix® EndoVascular Aneurysm Sealing System; and (2) as a result, Endologix’s public statements were materially false and misleading at all relevant times. On November 16, 2016, Endologix announced that the FDA requested two-year follow-up data on patients enrolled in the EVAS-FORWARD-IDE study to assess Nellix. On this news, shares of Endologix fell $2.02 per share or over 20% to close at $7.82 per share on November 16, 2016, damaging investors.
On January 26, 2017, the Court issued an Order consolidating cases. This action will serve as the lead case.
On March 29, 2017, the Court appointed Lead Plaintiff and Lead Counsel. Lead Plaintiff filed an Amended Complaint on May 26.
On December 5, 2017, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to file an amended Complaint. Plaintiff filed an amended Complaint on January 9, 2018. Defendants filed a Motion to Dismiss the second amended Complaint on March 12. On September 6, the Court issued an Order granting Defendants' Motion to Dismiss and dismissed the case with prejudice. Plaintiff filed a notice appealing the dismissal on October 5.
Company & Securities Information
Defendant: Endologix, Inc.
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: ELGX
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.