ACCESSWIRE
25 Jan 2023, 05:05 GMT+10
LOS ANGELES, CA / ACCESSWIRE / January 24, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Surmodics, Inc. ('Surmodics' or 'the Company') (NASDAQ:SRDX) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Surmodics announced on January 19, 2023, that it had received a letter from the FDA related to its premarket approval (PMA) application for the SurVeilTM drug-coated balloon (DCB). The FDA indicated that the PMA could not be approved in its present form. The agency's letter stated that the Company must add information on biocompatibility and labeling via an amendment, among other items. In response to the FDA letter, the Company stated, 'We are evaluating the issues raised in the FDA's letter and plan to meet with Agency representatives regarding its contents. Based on our discussion with the Agency, our team and external advisors will determine the appropriate path forward. Concurrently, we will be evaluating options to reduce our use of cash given this development.' Based on this news, shares of Surmodics fell by more than 28.3% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
Brian Schall, Esq.
The Schall Law Firm
310-301-3335
info@schallfirm.com
www.schallfirm.com
SOURCE: The Schall Law Firm
Get a daily dose of Orange County Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Orange County Sun.
More InformationThe lowly Columbus Blue Jackets, infused with a rare jolt of confidence, head to Vancouver to face the Canucks on ...
Clemson will look to continue its impressive season atop the Atlantic Coast Conference when it takes on Florida State in ...
The Pitt Panthers are wary of the Miami Hurricanes, who are ranked 20th in the nation. Miami (16-4, 7-3 Atlantic ...
st. Paul, Minnesota - The Biden administration moved Thursday to protect northeastern Minnesota's pristine Boundary Waters Canoe Area Wilderness from ...
Jalen Hurts isn't overly concerned with being one of the five finalists for NFL MVP honors. The Philadelphia Eagles quarterback ...
The Dallas Cowboys parted ways with six assistant coaches on Thursday, including former NFL head coach Joe Philbin and Leon ...
WASHINGTON D.C.: As part of its efforts to simplify the national COVID-19 vaccine strategy, the US Food and Drug Administration ...
WASHINGTON D.C.: US authorities said this week that a surge in Cubans and Nicaraguans arriving at the US border with ...
OTTAWA, Canada: Canadian Prime Minister Justin Trudeau's Liberal government plans to implement its long-awaited workforce transition bill, the "Just Transition," ...
TOKYO, Japan: The Yomiuri newspaper has reported that Japanese Prime Minister Fumio Kishida is planning to visit Kyiv in February ...
HONOLULU, Hawaii: The casket bearing Abigail Kinoiki Kekaulike Kawananakoa, long considered the last Hawaiian princess, has gone on public viewing ...
ST. LOUIS, Missouri: Missouri police report that all five prisoners who escaped last week from St. Francois County Detention Center ...