CASES
TranS1 Inc.
Class Period: Feb 21, 2008 to Oct 17, 2011
Lead Plaintiff Deadline: Mar 26, 2012
Summary of Case:
A securities class action has been filed against TranS1 Inc. ("TranS1" or the "Company ") on behalf of all persons who purchased or otherwise acquired TranS1 Inc. securities between February 21, 2008 and October 17, 2011. This case has been filed in the USDC - North Carolina (Eastern).
The Complaint alleges that, during the Class Period, TranS1 made false and/or misleading statements or failed to disclose that: (1) the Company was not in compliance with federal healthcare fraud and false claim statutes; (2) the Company engaged in improper reimbursement practices; (3) the Company lacked adequate internal and financial controls; and (4) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
On October 18, 2011, after the market closed, TranS1 disclosed that it had received a subpoena from the Department of Health and Human Services Office of Inspector General. The subpoena requests documents for the period January 1, 2008 through October 6, 2011. Upon these revelations, TranS1 shares declined $1.27 or more than 40%, to close at $1.85 on October 18, 2011.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.