Endologix, Inc. develops, manufactures, markets, and sells minimally invasive treatments for aortic disorders.

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. On June 10, 2020, the Court of Appeals affirmed the District Court's decision.