According to the Complaint, ABIOMED, Inc. engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart, and also provides continuum of care to heart failure patients.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) ABIOMED’s revenue growth was in decline; (ii) the Company did not have a sufficient plan in place to stem its declining revenue growth; (iii) the Company was unlikely to restore its revenue growth over the next several fiscal quarters; (iv) consequently, ABIOMED was reasonably likely to revise its full-year 2020 guidance in a way that would fall short of the Company’s prior projections and market expectations; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On June 29, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended consolidated Complaint on September 17. Defendants filed a Motion to Dismiss the amended consolidated Complaint on November 16. On September 21, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. On October 12, the parties stipulated to dismiss the action with prejudice.