Updated: Harwood Feffer LLP Announces Investigation of Cardiovascular Systems, Inc.

 

NEW YORK, Feb. 19, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Cardiovascular Systems, Inc. ("CSII" or the "Company") (NASDAQ: CSII), concerning whether the board has breached its fiduciary duties to shareholders.

In May 2015, the Company disclosed that it was subject of a False Claims Act investigation by the U.S. Attorney's Office for the Western District of North Carolina. 

In July 2015, CSII disclosed the unsealing of a whistleblower lawsuit filed in 2013.  The suit, filed by a former sales manager of the Company, alleges that CSII engaged in a marketing scheme using illegal kickbacks to doctors and made sham payments.

On January 21, 2016, the Company announced its revenues for the second fiscal quarter of 2016 were below expectations.

On February 12, 2016, a securities class action was filed against the Company in the U.S. District Court for the Central District of California, Case No. 2:16-cv-01011

Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.

If you own CSII shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212) 935-7400
Email:  bsachsmichaels@hfesq.com 
Website:   http://www.hfesq.com 
Follow us on Twitter: @HarwoodFeffer

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm. 

The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

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SOURCE Harwood Feffer LLP