ACCESS Newswire
25 Jan 2023, 00:35 GMT+10
LOS ANGELES, CA / ACCESSWIRE / January 24, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Surmodics, Inc. ('Surmodics' or 'the Company') (NASDAQ:SRDX) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Surmodics announced on January 19, 2023, that it had received a letter from the FDA related to its premarket approval (PMA) application for the SurVeilTM drug-coated balloon (DCB). The FDA indicated that the PMA could not be approved in its present form. The agency's letter stated that the Company must add information on biocompatibility and labeling via an amendment, among other items. In response to the FDA letter, the Company stated, 'We are evaluating the issues raised in the FDA's letter and plan to meet with Agency representatives regarding its contents. Based on our discussion with the Agency, our team and external advisors will determine the appropriate path forward. Concurrently, we will be evaluating options to reduce our use of cash given this development.' Based on this news, shares of Surmodics fell by more than 28.3% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
Brian Schall, Esq.
The Schall Law Firm
310-301-3335
[email protected]
www.schallfirm.com
SOURCE: The Schall Law Firm
Get a daily dose of Pittsburgh Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Pittsburgh Star.
More InformationWASHINGTON, D.C.: As the global weight-loss market explodes, drugmakers are now racing to solve a less visible problem: protecting...
In Philadelphia, the leading causes of death are heart disease, cancer and unintentional drug overdose. While some of these deaths...
Vancouver [Canada], June 20 (ANI): An Indian student studying at the University of Calgary in Canada has died, the Consulate General...
WASHINGTON, 7th June, 2025 (WAM) -- The United States recorded 122 new measles cases this week, with only four reported in Texas. Health...
WASHINGTON, 27th May, 2025 (WAM) -- Two people were killed and nine others, including three teenagers, injured in a shooting at Philadelphia's...
byFrank Frangie,Jeff Lageman,Kainani Stevens&John Oehser JACKSONVILLEJaguars experts Frank Frangie, Brent Martineau, John Oehser,...
WASHINGTON DC, - U.S. President Donald Trump has claimed a ceasefire has been reached between Israel and Iran. He made the claim on...
DUBAI, U.A.E.: British Iranians living in the U.K. are taken aback when they try to reach their families in Tehran on the phone and...
BRASILIA, Brazil: Former Brazilian President Jair Bolsonaro is accused of playing a key role in an illegal surveillance operation orchestrated...
ANKARA, Turkey: A Turkish far-right politician went on trial Wednesday, facing charges of inciting public hatred—an episode critics...
LONDON, U.K.: In a landmark moment for Britain, lawmakers in the House of Commons have voted in favour of legalising assisted dying,...
Western support for Israel's right to strike Iran backs up a pattern of pre-emptive violence that critics say is further eroding international...