SOURCE: Izard Nobel LLP

November 05, 2009 14:56 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Hansen Medical, Inc.

WEST HARTFORD, CT--(Marketwire - November 5, 2009) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of California on behalf of those who purchased the common stock of Hansen Medical, Inc. ("Hansen" or the "Company") (NASDAQ: HNSN) between May 1, 2008 and October 18, 2009 (the "Class Period").

The Complaint charges that Hansen and certain of its officers and directors violated federal securities laws by issuing materially false and misleading statements regarding the Company's financial results and compliance with Generally Accepted Accounting Principles. Specifically, the Company improperly recognized revenue associated with the sale of its Sensei Robotic Catheter systems. As a result of defendants' false and misleading statements, Hansen's stock traded at artificially inflated prices during the Class Period, reaching a high of $19.57 per share on May 13, 2008.

Then on October 19, 2009, Hansen announced that it would be restating its financial results for 2008 and for the first and second quarters of 2009 due to its failure to properly account for its revenue as a result of an investigation by the Company's audit committee. The audit committee's investigation was prompted by an anonymous "whistleblower" report the Company received in August 2009.

If you are a member of the class, you may, no later than December 22, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/hansenmedical/, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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