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Case Status:    ONGOING    
On or around 11/08/2018 (Ongoing date of last review)

Filing Date: August 23, 2018

Plaintiff's law firm issued a press release on August 23, 2018. According to the press release, Nevro is a global medical device company focused on providing treatment for patients suffering from debilitating chronic pain. Nevro's primary products are its Senza spinal cord stimulation systems, neuromodulation devices that deliver the Company's HF10 therapy.

The Complaint asserts 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 the proprietary nature of the Company's principal products.

Specifically, Defendants allegedly made false and/or misleading statements and/or failed to disclose that: (1) that Nevro had engaged in a fraudulent scheme by using protected confidential and proprietary trade secrets and stolen documents from its competitors to develop and enhance the Company's Senza systems; (2) that as a result, the Company's Senza systems were not "novel" or "proprietary;" (3) that these practices caused the Company to be vulnerable to increased litigation expenses and adverse legal and regulatory action; (4) that, as a result, Nevro's U.S. sales growth was not sustainable; and (5) that, as a result of the foregoing, Defendants' statements about Nevro's business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NVRO
Company Market: New York SE
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: N.D. California
DOCKET #: 18-CV-05181
JUDGE: Hon. Yvonne Gonzalez Rogers
DATE FILED: 08/23/2018
CLASS PERIOD START: 01/08/2018
CLASS PERIOD END: 07/12/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (San Diego)
    12481 High Bluff Drive, Suite 300, Bernstein Litowitz Berger & Grossmann LLP (San Diego), CA 92130
    858.793.0070 858.793.0323 · blbg@blbglaw.com
  2. Saxena White PA (Boca Raton)
    2424 N. Federal Highway, Suite 257, Saxena White PA (Boca Raton), FL 33431
    561.394.3399 561.394.3399 ·
No Document Title Filing Date
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