According to the Complaint, Edwards Lifesciences Corporation is an international company that researches, develops, provides products and technologies for heart valve repair and replacement therapies, as well as critical care monitoring solutions. This lawsuit was filed against the Company and three of its Officers.

Defendants provided investors with material information concerning Edwards’ expected revenue for the fiscal year 2024, particularly as it related to the growth of the Company’s core product, Transcatheter Aortic Valve Replacement (“TAVR”). Defendants’ statements included, among other things, strong commitment to the TAVR platform, confidence in the Company’s ability to capitalize on a subset of untreated patients through scaling of its various patient activation activities, and continued claims of significant demand in allegedly lower-penetrated markets.

The Complaint alleges that Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Edwards’ TAVR platform; notably, that the Company’s claims and confidence relied far too heavily on their perceived ability to engage the claimed low-treatment rate population of patients and an overestimation of the desire for hospitals and other care facilities to continue to utilize and otherwise commit resources to the TAVR procedures over newer, innovative treatment alternatives.

On July 24, 2024, Edwards unveiled below-expectation financial results for the second quarter of fiscal 2024 and, in particular, slashed its revenue guidance for the TAVR platform for the full fiscal year 2024. Investors and analysts reacted immediately to Edwards’ revelations and the price of Edwards’ common stock declined dramatically.

Plaintiff brings this action, on behalf of himself and other similarly situated investors, to recover losses sustained in connection with Defendants’ alleged fraud.