NEW YORK, Jan. 21, 2025 -- Pomerantz LLP is investigating claims on behalf of investors of TransMedics Group, Inc. ("TransMedics" or the "Company") (NASDAQ: TMDX). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether TransMedics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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