SOURCE: Bronstein, Gewirtz & Grossman, LLC

November 03, 2009 18:26 ET

Bronstein, Gewirtz & Grossman, LLC Announces Class Action Lawsuit Against Hansen Medical, Inc.

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.

Contact Information

  • Peretz Bronstein
    Eitan Kimelman
    Bronstein, Gewirtz & Grossman, LLC
    212-697-6484
    Email Contact