A securities class action has been filed in the USDC — MA. against TransMedics Group, Inc. (TMDX) (“TransMedics” or the “Company”), on behalf of all persons or entities who purchased or otherwise acquired TransMedics securities publicly traded on the NASDAQ between February 28, 2023, and January 10, 2025, both dates inclusive (the “Class Period”).
TransMedics describes itself as follows:
The Company is a commercial-stage medical technology company transforming organ transplant therapy for end-stage organ failure patients across multiple disease states. The Company developed the Organ Care System (“OCS”) to replace a decades-old standard of care. The OCS represents a paradigm shift that transforms organ preservation for transplantation from a static state to a dynamic environment that enables new capabilities, including organ optimization and assessment. The Company’s OCS technology replicates many aspects of the organ’s natural living and functioning environment outside of the human body. The Company also developed its National OCS Program (“NOP”), an innovative turnkey solution to provide outsourced organ retrieval, OCS organ management and logistics services, to provide transplant programs in the United States with a more efficient process to procure donor organs with the OCS. The Company’s logistics services include aviation transportation, ground transportation and other coordination activity.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose 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, thereby harming investors.
As a result of the Scorpion Capital report about TransMedics (the “Report”), the price of TransMedics stock fell $3.74 per share, or 5.15%, to close at $68.81 on January 10, 2025.
If you purchased TransMedics securities publicly traded on the NASDAQ during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.