March 22 Deadline Alert: Glancy Prongay & Murray LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit Against HeartWare International, Inc.

LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming March 22, 2016 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) of investors who purchased HeartWare International, Inc. (“HeartWare” or the “Company”) (NASDAQ: HTWR) securities between June 10, 2014 and January 11, 2016, inclusive (the “Class Period”). Long term HeartWare investors, who are holding their HeartWare shares, are encouraged to contact GPM to discuss their legal rights.

On September 9, 2015, the Company reported that it had “paused its MVAD clinical trial to address an MVAD controller manufacturing process issue.” Then on October 13, 2015, the Company reported certain adverse events in clinical trials of the Company’s MVAD products, and stated that the MVAD clinical trials may not be re-initiated. Finally, on January 11, 2016 the Company disclosed that problems with MVAD had resulted in serious adverse events in nearly half of the patients so far implanted with the device and that the trial would be delayed indefinitely. Following each of the above disclosures the Company’s shares declined sharply in value.

The complaint alleges that during the Class Period, HeartWare and certain of its senior executives violated provisions of the Exchange Act by making numerous false and misleading statements and omissions of material fact, including in press releases and in statements during conferences and conference calls with analysts and investors. Specifically, the complaint alleges that after the U.S. Food and Drug Administration ("FDA") issued a Warning Letter identifying numerous manufacturing and other regulatory failures at the Company's sole manufacturing facility, Defendants falsely assured investors that the Company had addressed those problems, and that they therefore posed no risk to the clinical trials or timely approval of MVAD, a pump that HeartWare is presently developing.

If you purchased shares of HeartWare during the Class Period you may move the Court no later than March 22, 2016 to request appointment as lead plaintiff, or if you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160317005939/en/

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com

Source: Glancy Prongay & Murray LLP

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