Edwards Lifesciences Set to Face Investor Suit Over Sales Growth

Edwards Lifesciences Corp. investors can proceed with a proposed class action alleging the medical device maker misrepresented demand for a heart valve product, a federal court ruled.

But the investors failed to adequately allege improper insider stock trades by Edwards CEO Bernard Zovighian, Judge Anne Hwang said in an order docketed Monday in the US District Court for the Central District of California.

The investors alleged Edwards made public statements claiming that market factors pointed to accelerated growth in its aortic valve sales, even though it knew of issues that would slow growth.

The revelation in July 2024 of below-expectation ...