SAN DIEGO, March 08, 2025 (GLOBE NEWSWIRE) — Robbins LLP reminds stockholders that a class action was filed on behalf of all persons or entities who purchased or otherwise acquired TransMedics Group, Inc. (NASDAQ: TMDX) securities between February 28, 2023 and January 10, 2025. TransMedics describes itself as a commercial-stage medical technology company transforming organ transplant therapy for end-stage organ failure patients across multiple disease states.
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The Allegations: Robbins LLP is Investigating Allegations that TransMedics Group, Inc. (TMDX) Misled Investors Regarding its Coercive and Unsafe Business Practices
According to the complaint, during the class period, defendants failed to disclose to investors that: (1) TransMedics used kickbacks, fraudulent overbilling, and coercive tactics to generate business and revenue; (2) TransMedics engaged in unsafe practices and hid safety issues and generally lacked safety oversight; (3) the foregoing subjected TransMedics to heightened risk of scrutiny and regulatory risk; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
The complaint alleges that on January 10, 2025, Scorpion Capital issued a 300+ slide report about TransMedics. The report accused TransMedics of, among other things, overbilling hospitals that use its services, effectively forcing customers to use certain services, and providing to patients organs that had been rejected by reputable physicians, by way of physicians who were paid by TransMedics.
On this news, the price of TransMedics stock fell $3.74 per share, or 5.15%, to close at $68.81 on January 10, 2025. On January 13, 2025, TransMedics stock fell a further $4.76 per share, or 6.9%, to close at $64.05.
What Now: You may be eligible to participate in the class action against TransMedics Group, Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by April 14, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
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About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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