NEW YORK - March 12, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against TransMedics Group, Inc. (“TransMedics” or the “Company”) (NASDAQ: TMDX) on behalf of investors that purchased or otherwise acquired TransMedics securities between February 28, 2023 and January 10, 2025 (the “Class Period”).
If you are an investor in TransMedics and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than April 15, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
According to the complaint, on January 10, 2025, Scorpion Capital issued a report regarding TransMedics (“the Report”). The Report alleges, among other things, fraudulent billing schemes, off-label misuse of its devices, and reliance on kickbacks to drive sales. The Report also alleges that the Company may be under regulatory scrutiny by the U.S. Department of Justice, Internal Revenue Service, and state attorneys general for Medicare fraud linked to organ acquisition costs.
On January 10, 2024, the price of TransMedics stock fell $3.74 per share, over 5%, to close at $68.81 per share. The stock continued to decline the following day, dropping nearly 7% to close at $64.05 on January 13, 2025.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that (i) TransMedics used kickbacks, fraudulent overbilling, and coercive tactics to generate business and revenue; (ii) TransMedics engaged in unsafe practices and hid safety issues and generally lacked safety oversight; and (iii) the foregoing subjected TransMedics to heightened risk of scrutiny and regulatory risk.
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Pamela A. Mayer*
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King*
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
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