Contact Information: Peretz Bronstein Eitan Kimelman Bronstein, Gewirtz & Grossman, LLC 212-697-6484 Email Contact
Bronstein, Gewirtz & Grossman, LLC Announces Class Action Lawsuit Against Hansen Medical, Inc.
| Source: Bronstein, Gewirtz & Grossman, LLC
NEW YORK, NY--(Marketwire - November 3, 2009) - Bronstein, Gewirtz & Grossman, LLC announces
that a class action has been filed in the United States District Court for
the Northern District of California on behalf of those who purchased or
otherwise acquired stock of Hansen Medical, Inc. ("Hansen" or the
"Company") (NASDAQ : HNSN ), during the period between May 1, 2008 through
and including October 18, 2009 (the "Class Period").
The Complaint charges Hansen and certain of the Company's executive
officers with violations of federal securities laws. In particular the
complaint asserts that defendants issued material misstatements and/or
failed to disclose: (a) The Company's improper revenue recognition
practices which resulted in the Company overstating its financial results;
(b) Hansen's violations of Generally Accepted Accounting Principles; and
(d) Hansen's lack of internal controls over financial reporting. The
complaint asserts that when the truth of these misstatements and omissions
were partially revealed to the market starting on October 19, 2009, the
price of Hansen securities declined more than 9% to close at $3.12 per
share on unusually heavy trading volume.
No Class has yet been certified in the above action. If you wish to review
a copy of the Complaint, to discuss this action, or have any questions,
please contact either Peretz Bronstein or Eitan Kimelman of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com.
Those who inquire by e-mail are encouraged to include their mailing address
and telephone number. December 22, 2009 is the deadline for investors to
seek a lead plaintiff appointment.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our
primary expertise is the aggressive pursuit of litigation claims on behalf
of our clients. In addition to representing institutions and other
investor plaintiffs in class action security litigation, the firm's
expertise includes general corporate work, private securities offerings,
and securities arbitration.