Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of TransEnterix, Inc. Investors & Encoura...
22 Julio 2016 - 11:32AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces that a
class action lawsuit has been filed on behalf of investors who
purchased TransEnterix, Inc. (“TransEnterix” or the “Company”)
(NYSE: TRXC) securities between February 10, 2016 and May 10,
2016, inclusive (the “Class Period”). TransEnterix investors
have until August 1, 2016 to file a lead plaintiff
motion.
Investors suffering losses on their TransEnterix investments are
encouraged to contact Lesley Portnoy of GPM to discuss their legal
rights in this class action at 310-201-9150 or by email to
shareholders@glancylaw.com.
On April 20, 2016, TransEnterix disclosed that its SurgiBot
System failed to meet the United States Food and Drug
Administration’s (the “FDA”) standards for substantial equivalence
based upon the data and information TransEnterix submitted in its
510(k) filing.
The Complaint alleges that throughout the Class Period,
Defendants made materially false and misleading statements
regarding the Company's business, operational and compliance
policies. Specifically, Defendants made false and/or misleading
statements and/or failed to disclose that: there were deficiencies
within the Company's 510(k) submission regarding the SurgiBot that
undermined the likelihood that the SurgiBot would receive FDA
clearance, which would leave the Company unable to commercialize
the SurgiBot in 2016 and would impair the Company's ability to
obtain approval for and commercialize its other robotic surgery
platform in the United States.
If you purchased shares of TransEnterix during the Class Period
you may move the Court no later than August 1,
2016 to ask the Court to appoint you as lead plaintiff if
you meet certain legal requirements. To be a member of the Class
you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights
or interests with respect to these matters, please contact Lesley
Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067 at 310-201-9150, Toll-Free at
888-773-9224, by email to shareholders@glancylaw.com, or visit our
website at http://glancylaw.com. If you inquire by email please
include your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160722005652/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comhttps://www.glancylaw.com
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