SOURCE: Kahn Swick & Foti, LLC

Kahn Swick & Foti

June 17, 2016 22:07 ET

TRANSENTERIX SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against TransEnterix, Inc. - TRXC

NEW ORLEANS, LA--(Marketwired - June 17, 2016) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 1, 2016 to file lead plaintiff applications in a securities class action lawsuit against TransEnterix, Inc. (NYSE MKT: TRXC), if they purchased the Company's securities between February 10, 2016 and May 10, 2016, inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of North Carolina.

What You May Do

If you purchased shares of TransEnterix and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 1, 2016.

About the Lawsuit

TransEnterix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) there were deficiencies with TransEnterix's 510(k) application to the Food and Drug Administration ("FDA") regarding its SurgiBot System, a single-port, robotically enhanced laparoscopic surgical platform, that undermined the likelihood that the SurgiBot would receive FDA clearance; (ii) as a result, TransEnterix would be unable to commercialize the SurgiBot in 2016; and (iii) consequently, TransEnterix's ability to obtain approval for and commercialize its other robotic surgery platform in the U.S. would be impaired.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact Information

  • Contact:
    Kahn Swick & Foti, LLC
    Lewis Kahn
    Managing Partner
    lewis.kahn@ksfcounsel.com
    1-877-515-1850
    206 Covington St.
    Madisonville, LA 70447