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BOCA RATON, Fla., Aug. 23, 2018 (GLOBE NEWSWIRE) -- Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the Northern District of California against Nevro Corp. (“Nevro” or the “Company”) (NYSE:NVRO) on behalf of investors who purchased or otherwise acquired the common stock of the Company between January 8, 2018 and July 12, 2018, inclusive (the “Class Period”).
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.
If you purchased Nevro shares between January 8, 2018 and July 12, 2018, you may contact Lester Hooker (email@example.com) at Saxena White P.A. to discuss your rights and interests.
If you purchased Nevro stock during the Class Period of January 8, 2018 through July 12, 2018 and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court by no later than October 22, 2018. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
Saxena White P.A., with offices in Florida, New York, and Massachusetts, concentrates its practice on prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.