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Birdbomb
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« on: June 17, 2005, 05:51:20 PM »

Finkelstein & Krinsk, LLP Announces Class Action Lawsuit Against Cyberonics, Inc.

Friday June 17, 8:03 pm ET


SAN DIEGO--(BUSINESS WIRE)--June 17, 2005--Finkelstein & Krinsk, LLP, the San Diego-based law firm specializing in litigation recovering shareholder stock losses, filed a class action case today in the United States District Court for the Southern District of Texas on behalf of the purchasers of Cyberonics, Inc. (Nasdaq:CYBX - News) securities between June 15, 2004, through October 1, 2004, inclusive (the "Class Period").
If you wish to participate or serve as a lead plaintiff, you must move the Court no later than 60 days from today. If you would like information about the complaint filed by Finkelstein & Krinsk or would like to discuss this action with an attorney, please contact attorney Jeffrey R. Krinsk at Finkelstein & Krinsk, LLP, 619-238-1333, jrk@classactionlaw.com, call (toll-free 877-493-5366), or attorney Mark L. Knutson at Finkelstein & Krinsk, LLP, 619-238-1333, mlk@classactionlaw.com, call (toll-free 877-493-5366). A member of the purported Class may move the Court to serve as lead plaintiff through counsel of their choice.

Cyberonics is in the business of designing, developing amd commercializing medical devices including one allegedly providing therapy, the Vagus Nerve Stimulation, for the treatment of epilepsy and other debilitating neurological and psychiatric disorders. Plaintiff alleges defendants violated the federal securities laws during the Class Period by failing to disclose and misrepresenting material information known to defendants or recklessly disregarded by them concerning this device. This included defendants' knowledge that the manufacturing and quality assurance process had significant flaws that would negatively impact the Company and VNC product approval. While aware of the true facts and the serious issues facing FDA approval of the VNC system, Company insiders sold over $1.98 million of Cyberonics stock. As a result the value of Cyberonics stock was materially artificially inflated during the Class Period.

Finkelstein & Krinsk, LLP practices law nationwide and has a reputation for superior work and excellent results. Please call (toll-free 877-493-5366), email (jrk@classactionlaw.com, mlk@classactionlaw.com) or otherwise contact Finkelstein & Krinsk as follows: 619-238-1333, 619-238-5425 fax, or 501 West Broadway, Ste. 1250, San Diego, CA 92101.



Contact:
     Finkelstein & Krinsk, LLP
     619-238-1333 or toll-free: 877-493-5366
     Jeffrey R. Krinsk, jrk@classactionlaw.com
     Mark L. Knutson, mlk@classactionlaw.com



Scott + Scott, LLC Announces Securities Fraud Class Action Lawsuit Against Cyberonics, Inc.

Friday June 17, 6:00 pm ET


COLCHESTER, Conn., June 17 /PRNewswire/ -- Scott + Scott, LLC, a law firm based in Connecticut with offices in Chagrin Falls, Ohio, and San Diego, California, filed a class action today in the United States District Court for the Southern District of Texas on behalf of the purchasers of Cyberonics, Inc. (Nasdaq: CYBX - News) securities during the Class Period between June 15, 2004, through October 1, 2004, inclusive (the "Class").
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you would like information about Scott + Scott's original complaint or would like to discuss this action with an attorney, please contact attorney Neil Rothstein at nrothstein@scott-scott.com (cell 619/251-0887) or attorney Amy K. Saba at asaba@scott-scott.com (800/332-2259, ext 26). Any member of the purported Class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Cyberonics engages in the design, development, and commercialization of medical devices, which claim to provide therapy, Vagus Nerve Stimulation (VNS), for the treatment of epilepsy and other debilitating neurological and psychiatric disorders. Plaintiff alleges that defendants violated the federal securities laws (Securities Exchange Act of 1934) during the Class Period by failing to disclose and misrepresenting material adverse facts known to defendants or recklessly disregarded by them, including that defendants were engaged in serious violative manufacturing and quality practices that would have a serious negative impact on prospects for the Company's VNC product approval and that, while well aware of true nature of the serious issues facing FDA approval of the VNC system for the depression indication, Company insiders sold over $1.98 million of Company stock during the Class Period. As a result, the Complaint alleges, the value of the Company's stock was materially and artificially inflated during the Class Period.

Scott + Scott, LLC practices nationwide. The firm dedicates itself to client communication and satisfaction and is currently litigating major securities, antitrust and employee retirement plan actions throughout the United States. The firm represents pension funds, charities, foundations, individuals and other entities worldwide. Please visit the Scott+Scott website at http://www.scott-scott.com to learn more about the firm, its practice and other cases.


     Neil Rothstein
     (nrothstein@scott-scott.com)
     619-251-0887

     Amy K. Saba
     (asaba@scott-scott.com)
     800-332-2259 (ext. 26)

« Last Edit: June 22, 2005, 10:47:44 AM by birdbomb » Logged

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« Reply #1 on: June 20, 2005, 04:48:08 AM »

Schatz & Nobel, P.C. Announces Class Action Lawsuit Against Cyberonics, Inc.

Monday June 20, 11:44 am ET


HARTFORD, Conn., June 20 /PRNewswire-FirstCall/ -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of Texas on behalf of all persons who purchased the publicly traded securities of Cyberonics, Inc. (Nasdaq: CYBX - News; "Cyberonics" or the "Company") between June 15, 2004, through October 1, 2004, inclusive (the "Class Period").
Cyberonics is a company that designs, develops, and commercializes medical devices, which allegedly provide therapy, Vagus Nerve Stimulation (VNS), for the treatment of epilepsy and other debilitating neurological and psychiatric disorders. The complaint alleges that Cyberonics and certain of its officers and directors violated federal securities laws. Specifically, defendants failed to disclose that they were engaged in serious violative manufacturing and quality practices that would have a negative impact on prospects for the Company's VNC product approval. While well aware of true nature of the serious issues facing FDA approval of the VNC system for the depression indication, Company insiders sold over $1.98 million of Cyberonics stock during the Class Period.

If you are a member of the class, you may, no later than August 16, 2005, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).

For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com. To view a copy of the Complaint initiating the class action, which was not filed by Schatz & Nobel, or for more information about this case, class action cases in general, or Schatz & Nobel, please visit our website: http://www.snlaw.net.


     CONTACT:
     Wayne T. Boulton or Nancy A. Kulesa
     Tel.: (800) 797-5499
     Website: www.snlaw.net
     e-mail: sn06106@aol.com


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« Reply #2 on: June 20, 2005, 07:40:50 AM »

It looks like three different law firms all filing suits over the basically the same claim.  I don't know much about class action law, but I'm guessing that the courts will at some point consolidate the different suits into just one.
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« Reply #3 on: June 20, 2005, 08:08:11 AM »

I would love to be part of this suit, but the problem is I can't prove any of my "stuff"   I have more seizures now, then I ever did before the VNS, can I prove this no, it's my word agaisnt who ever.  I have left sided face pain, neck pain. Can I prove that the VNS did it, other then the fact that it started when the VNS went in NO.  
And how I would tie any of my stuff to the stuff they talk I wouldn't even know.  
 
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« Reply #4 on: June 20, 2005, 12:47:13 PM »

Petunia, it's not that type of lawsuit.  This is about defrauding investors.  It doesn't have anything to do with patients (as defendants) unless they also happen to be investors for the time period specified.  
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« Reply #5 on: June 20, 2005, 01:25:54 PM »

Bernard is correct.  However, you and I both know personal lawsuits won't be too far behind.  Being the owner this board, I have recieve all kinds of mail from people who sometimes do not wish to become members, but have serious problems.

I personally know of several lawsuits in the works.  Just remeber timeing is everything.  
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« Reply #6 on: June 21, 2005, 12:35:28 PM »

Emerson Poynter LLP Files Class Action Suit Against Cyberonics, Inc.

Tuesday June 21, 6:33 pm ET


HOUSTON, June 21, 2005 (PRIMEZONE) -- Emerson Poynter LLP (http://www.emersonpoynter.com), a national law firm with offices in Houston, Little Rock, and Seattle, announced today that it has filed a class action today in the United States District Court for the Southern District of Texas (Case No. 4:05-cv-02121) on behalf of the purchasers of Cyberonics, Inc. (NasdaqNM:CYBX - News) securities during the Class Period between June 15, 2004, through October 1, 2004, inclusive (the ``Class''). A copy of the complaint filed in this action is available from the Court using the action number 4:05-cv-02121, or can be view on Emerson Poynter's website at: http://www.emersonpoynter.com.
 
Cyberonics engages in the design, development, and commercialization of medical devices, which claim to provide therapy, Vagus Nerve Stimulation (VNS), for the treatment of epilepsy and other debilitating neurological and psychiatric disorders. Plaintiff alleges that defendants violated the federal securities laws (Securities Exchange Act of 1934) during the Class Period, by failing to disclose and misrepresenting material adverse facts known to defendants or recklessly disregarded by them, including that defendants were engaged in serious violative manufacturing and quality practices that would have a serious negative impact on prospects for the Company's VNC product approval and that, while well aware of true nature of the serious issues facing FDA approval of the VNC system for the depression indication, Company insiders sold over $1.98 million of Company stock during the Class Period. As a result, the Complaint alleges, the value of the Company's stock was materially and artificially inflated during the Class Period.

If you purchased or otherwise acquired the common securities during the Class Period you may, no later than August 16, 2005 move the Court to appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. You may retain Emerson Poynter LLP or other counsel of your choice.

Emerson Poynter LLP has substantial experience representing shareholders and investors in complex class action securities, consumer, and retirement plan litigation all over the country. A complete firm resume is posted on our website (http://www.emersonpoynter.com/resources/firmresume.pdf).

If you are a member of the Class please contact Emerson Poynter LLP. You may contact our shareholder relations department via email (epllp@emersonpoynter.com) or by calling 1-800-663-9817.

More information on this and other class actions can be found on the Class Action Newsline at http://www.primezone.com/ca



Contact:
          Emerson Poynter LLP
          Charles Gastineau, Tanya Autry, or Michelle Raggio
          Toll Free: (800) 663-9817
          Phone: (501) 907-2555
          Fax:  (501) 907-2556
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« Reply #7 on: June 22, 2005, 10:47:03 AM »

Federman & Sherwood Announces That a Securities Class Action Lawsuit Was Filed Against Cyberonics, Inc.

Wednesday June 22, 6:05 pm ET


OKLAHOMA CITY, June 22 /PRNewswire/ -- On June 17, 2005, the class action lawsuit was filed in the United States District Court for the Southern District of Texas against Cyberonics, Inc. (Nasdaq: CYBX - News). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price. The class period is from June 15, 2004 through October 1, 2004.
Plaintiff seeks to recover damages on behalf of the Class. If you are a member of the Class as described above, you may move the Court no later than August 15, 2005, to serve as a lead plaintiff for the Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

If you wish to discuss this action, participate in this suit, or have any questions or concerns regarding this notice, or preservation of your rights, please contact:


     William B. Federman
     FEDERMAN & SHERWOOD
     120 N. Robinson, Suite 2720
     Oklahoma City, OK 73102
     (405) 235-1560/FAX: (405) 239-2112
     mail to: wfederman@aol.com
     http://www.federmanlaw.com
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VNS implanted Sept 02, turned off Dec 04, Generator ex-planted Nov 07
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« Reply #8 on: June 22, 2005, 03:16:27 PM »

Looks like the lawyers are sharks in a pool of blood - they are all jumping in to get a piece of the action.

I found a site that explains a bit about securities related class action lawsuits.  Looks like my earlier guess was correct.
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« Reply #9 on: June 23, 2005, 08:03:05 AM »

Law Offices Of Charles J. Piven, P.A. Announces Class Action Lawsuit Against Cyberonics, Inc.

BALTIMORE, MD--(MARKET WIRE)--Jun 23, 2005 -- Law Offices Of Charles J. Piven, P.A. today announced that a securities class action was commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of Cyberonics, Inc. (NasdaqNM:CYBX - News) between June 15, 2004 and October 1, 2004, inclusive (the "Class Period").
 
The case is pending in the United States District Court for the Southern District of Texas against defendant Cyberonics and one or more of its officers and/or directors. The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period, which statements had the effect of artificially inflating the market price of the Company's securities.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the proposed class, you may move the court no later than August 16, 2005 to serve as a lead plaintiff for the proposed class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the proposed class you need not take any action at this time, and you may retain counsel of your choice.

If you acquired shares of Cyberonics, Inc. during the Class Period indicated and want to discuss your legal rights, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions. Charles J. Piven has been involved in securities litigation for approximately 20 years. You may contact Law Offices Of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@pivenlaw.com or by calling 410/986-0036.



Contact:
     CONTACT:
     Law Offices Of Charles J. Piven, P.A.
     Baltimore, Maryland
     Charles J. Piven
     410/986-0036
     Email Contact
     


--------------------------------------------------------------------------------
Source: Law Offices Of Charles J. Piven, P.A.
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« Reply #10 on: July 16, 2005, 01:39:21 AM »

Law Offices of Marc S. Henzel Announces Class Action Lawsuit Against Cyberonics, Inc.

BALA CYNWYD, PA--(MARKET WIRE)--Jul 14, 2005 -- A class action lawsuit was filed in the United States District Court for the Southern District of Texas on behalf of the purchasers of Cyberonics, Inc. (NasdaqNM:CYBX - News) securities during the Class Period between June 15, 2004, through October 1, 2004, inclusive (the "Class").
 
Cyberonics engages in the design, development, and commercialization of medical devices, which claim to provide therapy, Vagus Nerve Stimulation (VNS), for the treatment of epilepsy and other debilitating neurological and psychiatric disorders. Plaintiff alleges that defendants violated the federal securities laws (Securities Exchange Act of 1934) during the Class Period by failing to disclose and misrepresenting material adverse facts known to defendants or recklessly disregarded by them, including that defendants were engaged in serious violative manufacturing and quality practices that would have a serious negative impact on prospects for the Company's VNC product approval and that, while well aware of true nature of the serious issues facing FDA approval of the VNC system for the depression indication, Company insiders sold over $1.98 million of Company stock during the Class Period. As a result, the Complaint alleges, the value of the Company's stock was materially and artificially inflated during the Class Period.

If you are a member of the class described above, you may, not later than August 16, 2005 move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.

If you have any questions concerning this case or your rights or interests with respect to these and other matters in this notice, please contact: Marc S. Henzel, Esq. of The Law Offices of Marc S. Henzel, 273 Montgomery Ave, Suite 202 Bala Cynwyd, PA 19004-2808, by telephone (888) 643-6735 or (610) 660-8000, by facsimile (610) 660-8080, by e-mail at Mhenzel182@aol.com or visit the firm's website at http://members.aol.com/mhenzel182.



Contact:
     Contact:
     Marc S. Henzel, Esq.
     (888) 643-6735
     (610) 660-8000
     fax (610) 660-8080
     Email Contact
     http://members.aol.com/mhenzel182


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« Reply #11 on: July 26, 2005, 07:40:59 PM »

Scott + Scott, LLC Filed First Shareholder Complaint Against Cyberonics, Inc. on June 17

Tuesday July 26, 11:27 pm ET  
Shares Plunge Again on Revised Outlook


COLCHESTER, Conn., July 26 /PRNewswire/ -- Scott + Scott, LLC, a law firm based in Connecticut with offices in Chagrin Falls, Ohio, and San Diego, California, filed a class action on June 17, 2005 in the United States District Court for the Southern District of Texas on behalf of the purchasers of Cyberonics, Inc. (Nasdaq: CYBX - News) securities during the Class Period between June 15, 2004, through October 1, 2004, inclusive (the "Class").

If you would like information about Scott + Scott's complaint or would like to discuss this action with an attorney, please contact attorney Neil Rothstein at nrothstein@scott-scott.com (cell 619/251-0887) or attorney Amy K. Saba at asaba@scott-cott.com (800/332-2259, ext 26). All Cyberonics securities purchasers may contact the firm as the news unfolds.

Cyberonics reported financial results for the fourth quarter and fiscal year ended April 29, 2005. Shares fell more than 10 percent on Tuesday after the Company revised its financial outlook. The Company revised its long term outlook through 2010 and the fiscal year 2006 revised plan anticipates that funding for the planned loss, capital expenditures and investments in working capital will be provided by existing cash and marketable securities, as well as an increase in credit lines and senior debt. The Company also changed its guidance for the first quarter ending July 29, 2005.

Shares of Cyberonics fell $4.72 to $39.95 today. The Company's shares closed yesterday at $44.07.

Cyberonics engages in the design, development, and commercialization of medical devices, which claim to provide therapy, Vagus Nerve Stimulation (VNS), for the treatment of epilepsy and other debilitating neurological and psychiatric disorders. You can read more about the Scott + Scott case by going to: http://biz.yahoo.com/prnews/050617/nef018.html?.v=9 .

Scott + Scott, LLC is currently working on cases against Guidant Corp., Newmont Mining, DreamWorks Animation, Harley-Davidson, Possis Medical as well as others.

The firm is currently working on the securities fraud case against Guidant Corporation, which it filed on June 24, 2005. The firm's complaint, the first on file, charges the heart device manufacturer with securities fraud. The Minneapolis/St. Paul Business Journal reported that Johnson & Johnson said it would proceed with its proposed $25.4 billion acquisition of Guidant, but it backed off the expected closing date which was expected to be at the end of September. Johnson & Johnson said its reviews of the acquisition should be completed by the end of the third quarter, but did not say when it expects the deal to close. For more information on the case against Guidant, go to: http://biz.yahoo.com/prnews/050722/nef017.html?.v=13 .




--------------------------------------------------------------------------------
Source: Scott + Scott, LLC
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« Reply #12 on: August 15, 2005, 10:55:54 AM »

Key Director Has Resigned: Scott+Scott, LLC Announces Final Day

Monday August 15, 2:32 pm ET  
Final Day to Register as Lead Plaintiff at Scott+Scott -- Firm Filed First Complaint on June 17; Stock Trades at Around $37


COLCHESTER, Conn., Aug. 15 /PRNewswire/ -- Scott+Scott, LLC, a law firm based in Connecticut with offices in Chagrin Falls, Ohio, and San Diego, California, filed the initial securities class action on June 17, 2005 in the United States District Court for the Southern District of Texas on behalf of the purchasers of Cyberonics, Inc. (Nasdaq: CYBX - News) securities during the Class Period between June 15, 2004, and October 1, 2004, inclusive (the "Class"). Any concerned purchaser who purchased Cyberonics at anytime may contact the firm.
 
If you would like information about Scott+Scott's complaint or would like to discuss this action with an attorney, please contact attorney Neil Rothstein at nrothstein@scott-scott.com (800/332-2259, ext 22 or by cell at 619/251-0887). You may also contact Scott+Scott attorney Amy K. Saba at asaba@scott-cott.com (800/332-2259, ext 26). All Cyberonics securities purchasers may contact the firm as news unfolds. Please visit the Scott+Scott website at http://www.scott-scott.com.

While Lead Plaintiff motions are due tomorrow, signing with Scott+Scott provides certain benefits. However, signing with Scott+Scott will not automatically make you a lead plaintiff without further authorization.

Cyberonics reported financial results for the fourth quarter and fiscal year ended April 29, 2005. Shares fell more than 10 percent after the Company revised its financial outlook. The Company revised its long term outlook through 2010 and the fiscal year 2006 revised plan now anticipates that funding for the planned loss, capital expenditures and investments in working capital will be provided by existing cash and marketable securities, as well as an increase in credit lines and senior debt. The Company at that time also changed its guidance for the first quarter ending July 29, 2005.

On July 29, 2005, "key director" Ronald Matricaria, who had been chairman of Cyberonics board's Compensation Committee and a member of its Strategic Advisory Committee, resigned effective July 23. Reuters has reported that through a July 24 e-mail, Matricaria could not "support the direction of the governance practices of the Cyberonics board, in particular its practices regarding CEO compensation and succession."

Then, on August 9, 2005, Cyberonics announced the following compensation contract for Chairman, CEO and defendant Robert P. Cummins:


    1. $600,000 annually base that can be adjusted;
    2. An annual bonus of 80% to 110% of this yearly salary (subject to
       meeting certain objectives);
    3.  A grant of 75,000 restricted shares vesting at a rate of 15,000 a year
       for five years;
    4. On the first anniversary of the execution date of the employment
       agreement, a grant of 75,000 shares of restricted stock vesting at the
       end of each of four years at 18,750 per year;


    5. On the second anniversary, he will get another 75,000 shares of
       restricted stock vesting at a rate of 25,000 shares at the end of each
       of three years.

Under these circumstances, at the end of his third year of employment, Mr. Cummins will have the ability to trade 58,750 shares of restricted stock. At the opening today, such stock would be worth about $2,163,633.58. If this defendant is terminated "under certain circumstances," he will receive a sum twice his base salary, an annual bonus equal to 100 percent his base salary plus acceleration of his stock rights. Also, in recognition of his "contributions" to the Company, this defendant will receive 25,000 restricted shares on the date of agreement of the contract.

Shares of Cyberonics traded as high as $47.77 in June and now the stock stands at around $37. Cyberonics engages in the design, development, and commercialization of medical devices, which claim to provide therapy, Vagus Nerve Stimulation (VNS), for the treatment of epilepsy and other debilitating neurological and psychiatric disorders. You can read more about the Scott+Scott case by going to: http://biz.yahoo.com/prnews/050617/nef018.html?.v=9.

Scott+Scott, LLC is currently working on cases against Guidant Corp Securities, Guidant Corp Injury, RenaissanceRe Ltd, Investors Financial Services Corp., Harley-Davidson Employee Litigation, Host American Corp., Patterson Companies among others.

The Guidant Corp. action, which Scott+Scott filed on June 24, 2005, charges the heart device manufacturer with securities fraud. The Minneapolis/St. Paul Business Journal reported that Johnson & Johnson said it would proceed with its proposed $25.4 billion acquisition of Guidant, but it backed off the expected closing date which was expected to be at the end of September. Johnson & Johnson said its reviews of the acquisition should be completed by the end of the third quarter, but did not say when it expects the deal to close. For more information on the case against Guidant, go to: http://biz.yahoo.com/prnews/050808/nem020.html?.v=21.




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Source: Scott+Scott, LLC
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"If you are going through hell, keep going." (Sir Winston Churchill, 1874-1965)
VNS implanted Sept 02, turned off Dec 04, Generator ex-planted Nov 07
Electrodes are in me for LIFE!
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« Reply #13 on: February 08, 2007, 07:38:14 PM »

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The Law Firm of Goldman Scarlato & Karon, P.C. Announces Class Action Lawsuit Against Cyberonics, Inc.[/b]
Thursday February 8, 12:58 pm ET


CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, announces that a lawsuit has been filed in the United States District Court for the Southern District of Texas, on behalf of persons who purchased or otherwise acquired publicly traded securities of Cyberonics, Inc. ("Cyberonics" or the "Company") (NASDAQ:CYBX - News) between February 5, 2004 and August 1, 2006, inclusive, (the "Class Period"). The lawsuit was filed against Cyberonics and certain officers and directors

If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at info@gsk-law.com and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than February 16, 2007 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that Defendants failed to disclose and misrepresented material information known to Defendants regarding FDA review and approval of a new use for the Company's Vagus Nerve Stimulation ("VNS") device to treat depression, the marketability of the VNS device and medical insurance payers' coverage decisions for the device. The complaint also alleges improper conduct related to the award of stock option grants to certain Cyberonics officers.

If you bought Cyberonics securities between February 5, 2004 and August 1, 2006, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (888) 668-4130 to speak with an advisor.



Contact:
The Law Firm of Goldman Scarlato & Karon, P.C.
Brian Penny, Esq., 888-668-4130

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Source: The Law Firm of Goldman Scarlato & Karon, P.C.[/size]
Logged

"If you are going through hell, keep going." (Sir Winston Churchill, 1874-1965)
VNS implanted Sept 02, turned off Dec 04, Generator ex-planted Nov 07
Electrodes are in me for LIFE!
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