NEW YORK, Feb. 18, 2025 -- Pomerantz LLP announces that a class action lawsuit has been filed against TransMedics Group, Inc ("TransMedics" or the "Company") (NYSE: TMDX). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether TransMedics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until April 15, 2025 to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired TransMedics securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On February 21, 2024, U.S. Representative Paul Gosar, a member of the House Committee on Oversight and Accountability, issued a letter accusing TransMedics of various forms of misconduct, including the misappropriation of corporate resources.
Following publication of Representative Gosar's letter, TransMedics' stock price fell $3.85 per share, or 4.43%, over the following two trading sessions, to close at $83.14 per share on February 23, 2024.
Then, on January 10, 2025, Scorpion Capital ("Scorpion") published a report on TransMedics' business practices, which allegedly include fraudulent billing schemes, off-label misuse of its devices, and reliance on kickbacks to drive sales. The Scorpion report also describes ongoing regulatory scrutiny of TransMedics, reporting investigations by the U.S. Department of Justice, the Internal Revenue Service, and state attorneys general into Medicare fraud linked to organ acquisition costs. The Scorpion report also describes alleged customer dissatisfaction, asserting that prominent transplant centers have discontinued their use of TransMedics devices, citing concerns over their clinical value.
On this news, TransMedics' stock price fell $3.74 per share, or 5.16%, to close at $68.81 per share on January 10, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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