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Case Status:    DISMISSED    
On or around 08/23/2019 (Court's order of dismissal)

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.

On December 20, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. On January 16, 2019, the Court issued an Order relating cases. Lead Plaintiff filed an amended Complaint on January 18. Defendants filed a Motion to Dismiss the amended Complaint on February 15. On August 1, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. On August 15, Plaintiff filed a notice of intention not to file a second amended Complaint. The Court dismissed the action with prejudice on August 23 and entered judgment in favor of the Defendants.

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)
  2. Saxena White PA (Boca Raton)
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 18-CV-05181
JUDGE: Hon. Yvonne Gonzalez Rogers
DATE FILED: 01/18/2019
CLASS PERIOD START: 08/08/2017
CLASS PERIOD END: 06/29/2018
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
—Related District Court Filings Data is not available