Stock Fraud Suit Over Heart Pump Risks Revived by 9th Cir.

Medical device maker Thoratec Corp. must face investors’ claims it concealed rising reports of blood clots related to its HeartMate II heart pump, a federal appeals court said Oct. 4.

The investors adequately alleged that Thoratec’s statements downplaying the increase in thrombosis events during the class period were misleading, the U.S. Court of Appeals for the Ninth Circuit said, reversing (Cooper v. Thoratec Corp., 2017 BL 356842, 9th Cir., 15-17369, 10/4/17).

The investors alleged that between May 2011 and August 2014, Thoratec and three top executives were aware that incidents of thrombosis related to the HM II, a ...