{"id":96108,"date":"2023-03-10T04:43:26","date_gmt":"2023-03-10T04:43:26","guid":{"rendered":"http:\/\/lebanonnewsgazette.com\/?guid=6eebeb0e425aa9c3e93207058cada9a1"},"modified":"2023-03-10T04:43:26","modified_gmt":"2023-03-10T04:43:26","slug":"rosen-globally-respected-investor-counsel-encourages-surmodics-inc-investors-to-inquire-about-securities-class-action-investigation-srdx","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/rosen-globally-respected-investor-counsel-encourages-surmodics-inc-investors-to-inquire-about-securities-class-action-investigation-srdx\/","title":{"rendered":"ROSEN, GLOBALLY RESPECTED INVESTOR COUNSEL, Encourages Surmodics Inc. Investors to Inquire About Securities Class Action Investigation \u2013 SRDX"},"content":{"rendered":"

NEW YORK, March 09, 2023 (GLOBE NEWSWIRE) —
\n<\/strong><\/p>\n

WHY:\u00a0<\/strong>Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Surmodics Inc. (NASDAQ: SRDX) resulting from allegations that Surmodics may have issued materially misleading business information to the investing public.<\/p>\n

SO WHAT:<\/strong>\u00a0If you purchased Surmodics securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.<\/p>\n

WHAT TO DO NEXT:\u00a0<\/strong>To join the prospective class action, go to\u00a0https:\/\/rosenlegal.com\/submit-form\/?case_id=11326<\/a>\u00a0or call Phillip Kim, Esq. toll-free at 866-767-3653 or email\u00a0pkim@rosenlegal.com<\/a>\u00a0or\u00a0cases@rosenlegal.com<\/a>\u00a0for information on the class action.<\/p>\n

WHAT IS THIS ABOUT:<\/strong>\u00a0On January 19, 2023, Surmodics announced it had received a letter from the U.S. Food and Drug Administration related to its premarket approval (PMA) application for the SurVeilTM drug-coated balloon (DCB). In the letter, the FDA indicated that the application is not currently approvable, while providing specific guidance as to a path forward. The letter stated that certain information within two general categories\u2014biocompatibility and labeling\u2014must be added by an amendment to the company\u2019s PMA application to place it in approvable form. Although the information identified by the Agency to put the PMA application in approvable form would require additional testing and analysis, the letter did not question the human clinical data submitted nor request any further human clinical data. Surmodics stated, \u201cWe are evaluating the issues raised in the FDA\u2019s 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.\u201d<\/p>\n

On this news, Surmodics\u2019 share price fell $10.57, or 28%, to close at $26.77 per share on January 19, 2023.<\/p>\n

WHY ROSEN LAW:\u00a0<\/strong>We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs\u2019 Bar. Many of the firm\u2019s attorneys have been recognized by Lawdragon and Super Lawyers.<\/p>\n

Follow us for updates on LinkedIn:\u00a0https:\/\/www.linkedin.com\/company\/the-rosen-law-firm<\/a>, on Twitter:\u00a0https:\/\/twitter.com\/rosen_firm<\/a>\u00a0or on Facebook:\u00a0https:\/\/www.facebook.com\/rosenlawfirm\/<\/a>.<\/p>\n

Attorney Advertising. Prior results do not guarantee a similar outcome.<\/p>\n

Contact Information:<\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Laurence Rosen, Esq.
\nPhillip Kim, Esq.
\nThe Rosen Law Firm, P.A.
\n275 Madison Avenue, 40th Floor
\nNew York, NY 10016
\nTel: (212) 686-1060
\nToll Free: (866) 767-3653
\nFax: (212) 202-3827
\nlrosen@rosenlegal.com<\/a>
\npkim@rosenlegal.com<\/a>
\ncases@rosenlegal.com<\/a>
\nwww.rosenlegal.com<\/a><\/p>\n

GlobeNewswire Distribution ID 8785630<\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, March 09, 2023 (GLOBE NEWSWIRE) \u2014 WHY:\u00a0Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Surmodics Inc. (NASDAQ: SRDX) resulting from allegations that Surmodics may have issued materially misleading business information to the investing public. SO WHAT:\u00a0If you purchased Surmodics securities you [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2584,17,53,343],"tags":[],"yoast_head":"\nROSEN, GLOBALLY RESPECTED INVESTOR COUNSEL, Encourages Surmodics Inc. 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