Thoratec Hit With Shareholder Suit Over Device Recall, Study

Law360, Los Angeles (January 24, 2014, 6:29 PM EST) -- An investor in medical device company Thoratec Corp. filed in California federal court a putative shareholder class action on Friday, claiming the company did not tell investors that its heart devices posed a high risk for blood clots and that stock prices tanked after a product recall and a negative study.

Plaintiff Bradley Cooper claims Thoratec failed to disclose in regulatory filings that its HeartMate II Left Ventricular Assist Device had a risk for fatal pump thrombosis. Cooper claims he bought 230 shares of the company...
To view the full article, register now.