Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Central District of California on behalf of shareholders of Endologix Inc. (NASDAQ: ELGX) (“Endologix”) who purchased shares between August 2, 2016 and November 16, 2016.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Endologix did not have the requisite clinical data for FDA premarket approval of its Nellix EndoVascular Aneurysm Sealing System; and (2) as a result, Endologix’s public statements were materially false and misleading at all relevant times.
On November 16, 2016, Endologix announced that the FDA requested two-year follow-up data on patients enrolled in the EVAS-FORWARD IDE study to assess Nelli. On this news, shares of Endologix fell $2.02 per share or over 20% to close at $7.82 per share on November 16, 2016, damaging investors.
If you suffered a loss in Endologix you have until March 6, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
To receive more information, please fill out the form.