Edwards Misleadingly Touted Demand for Heart Device, Suit Says

Edwards Lifesciences Corp. 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, an investor alleges.

The revelation in July of below-expectation fiscal year 2024 financial results blamed on decelerating growth led to a 31% single-day stock drop, Dhimant Patel says. Patel filed his proposed class action Monday in the US District Court for the Central District of California.

Beginning in February, the medical device company cited a population of untreated patients and opportunities to expand sales in certain countries as reasons for FY ...