TMCnet News
Haeggquist & Eck Investigates Cardiovascular Systems Inc. for Paying Illegal Kickbacks, Promoting Its Devices for Off-Label Purposes, and Violating FDA Laws and RegulationsHaeggquist & Eck, LLP a shareholder rights litigation firm, has launched an investigation into possible breaches of fiduciary duty and other violations of state law by certain members of the board of directors of Cardiovascular System Inc. (the Company or CSI (News - Alert)) (NASDAQ: CSII). CSI is a medical technology company that develops, manufactures and markets catheters designed to treat coronary arterial disease by eliminating the calcified plaque that accumulates on blood vessel walls. If you own Cardiovascular Systems common stock and would like more information, please contact attorney Amber Eck at 619-342-8000 or [email protected]. Specifically, we are investigating whether certain members of Cardiovascular System's Board of Directors breached their fiduciary duties by failing to implement appropriate internal procedures and controls to prevent the Company and its top executives from allegedly: (1) distributing illegal kickbacks to health care providers; (2) engaging in off-label promotions of its medical devices; and (3) violating FDA laws and regulations in connection with its medical devices. CSI's illegal kickback scheme resulted in a multi-million dollar settlement of a Department of Justice ("DOJ") investigation. In addition, a securities fraud lawsuit is currently pending against the Company in the United States District Court for the District of Minnesota. The class action alleges that the Company engaged in a widespread scheme to increase sales and inflate revenues through unsustainable illegal tactics, including paying kickbacks to CSI's main customers - interventional cardiologists and cardiovascular surgeons - in violation of the Anti-Kickback Statute. Cardiovascular Systems Shareholders Have Legal Options Concerned Cardiovascular Systems shareholders who would like more information about potential remedies for the alleged misconduct, including remedies to the Company from the alleged misconduct of its executives and/or directors, may contact attorney Amber Eck at 619-342-8000, [email protected]. Haeggquist & Eck, LLP is a nationally recognized leader in shareholder rights law. The firm represents individual investors in shareholder derivative lawsuits, and members of the firm have helped shareholders recover more than $1 billion of value for themselves and the companies in which they have invested. This release constitutes attorney advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170822005452/en/ |
