A class action lawsuit has been filed against Neovasc Inc. (NVCN), a Canadian biotech company, regarding potential violations of federal securities laws.
If you have losses from investing in Neovasc Inc. (NVCN) during the class period between November 1, 2019 and October 27, 2020, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or by email at firstname.lastname@example.org.
The deadline to apply to be lead plaintiff is January 5, 2021. A class has not been certified in this case. You are not represented by an attorney until certification occurs.
Neovasc Inc. (NVCN) is a specialty medical device company that creates cardiovascular devices for the domestic and international market. Neovasc’s products include the Neovasc Reducer, which is under review by the U.S. Food and Drug Administration (FDA) for treatment of patients with refractory angina pectoris.
In 2019, the FDA recommended that Neovasc collect more pre-market blinded data before submitting a pre-market approval (PMA) application for the Reducer. Neovasc declined to take the FDA’s recommendation to gather more data and submitted a PMA, claiming that they had enough evidence and didn’t want to delay getting the Reducer to patients.
On October, 28, 2020, Neovasc announced that the FDA’s Circulatory Systems Devices Advisory Panel had voted against the safety and effectiveness of the Reducer. The panel stated that “the lack of blinding assessment made the primary endpoint difficult to interpret,” and reached a consensus that “additional premarket randomized clinical data was necessary.”
That news caused Neovasc’s stock price to decline by an incredible 42%, causing losses for investors.
In February of 2019, Neovasc announced the public offering of more than 11 million shares of stock, which was expected to raise $5 million. H.C. Wainwright & Co. was the sole book-running manager (underwriter) for the offering.
If you believe your financial advisor negligently recommended that you invest in Neovasc, improperly recommended an overconcentrated position in Neovasc, or otherwise mishandled your account, you may also have a claim against your financial advisor which can be pursued through securities or FINRA arbitration.
Recovering Neovasc Inc. (NVCN) Investment Losses
If you have investment losses with Neovasc Inc. (NVCN), contact Silver Law Group, a nationally-recognized class action law firm representing investors.
Silver Law Group represents investors who have been the victims of investment fraud. Our class action attorneys work with groups of investors who have been the victim of securities or investment fraud. Many of our cases involve violations of the federal securities laws, Ponzi schemes, and other types of fraud. Our team of lawyers, accountants, and investigators work to maximize your recovery.
Scott Silver, Silver Law Group’s managing partner, is chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors around the country and internationally in securities investment fraud cases. Contact us today at email@example.com or toll free at (800) 975-4345.