Latest news with #ScorpionCapital
Associated Press
10-04-2025
- Business
- Associated Press
TransMedics Group (TMDX) Financial Success Faces Legal Scrutiny Amid Allegations
SAN FRANCISCO, April 10, 2025 (GLOBE NEWSWIRE) -- TransMedics Group, Inc. (NASDAQ: TMDX) reported blockbuster Q4 2024 earnings in late February 2025, booking $121.6 million in revenue (up 50% year-over-year) and $35.5 million in full-year net income, fueled by surging adoption of its OCS devices. Despite these positive results, TMDX stock continues to trade significantly below its 2024 highs, as the earnings report arrives amid explosive allegations from short-seller Scorpion Capital and mounting legal challenges, including an investor class action lawsuit accusing the company and its senior executives of securities fraud. Hagens Berman is investigating the alleged claims and urges investors who purchased TransMedics shares and suffered substantial losses to submit your losses now. Lead Plaintiff Deadline: Apr. 15, 2025 Visit: 844-916-0895 Growth Fueled by Market Dominance On February 27, TransMedics released positive earnings and guidance exceeding analysts' expectations. The company completed 3,715 U.S. OCS cases in 2024, capturing 20.9% market share across heart, lung, and liver transplants—a 58% annual increase. Its logistics fleet now includes 19 aircraft, with two more planned for 2025 to support a projected revenue of $530M-$552M, exceeding Wall Street consensus of $521.62M. But TDMX shares showed a muted reaction to the company's strong Q4 results and remain 58% below 52-week highs. Investors have grown increasingly skeptical about the company's long-term profitability, with concerns around compressing margins and adoption hurdles. The Scorpion Report Investors' fears were exacerbated by a highly critical short report issued by Scorpion Capital on January 10, 2025. The report, titled 'Walk Like An Egyptian: A 'Mafia-Style' Extortion, Racketeering, and Organ Trafficking Scheme Masquerading as a Medical Device Company,' spans 342 pages and alleges severe misconduct, including kickbacks, billing fraud, unreported device failures, off-label misuse, and monopolistic practices. It claims TransMedics is in a 'death spiral' and sets a target price of $0 for the stock. Key allegations in the report include: Racketeering and monopolistic practices tied to its Organ Care System (OCS) technology. Off-label usage and safety concerns regarding its devices. Excessive pricing for bundled services compared to alternatives. Claims of organ trafficking and unethical business practices. Shares plummeted 15% after Scorpion's January 10 report. The TransMedics Group (TDMX) Class Action Adding to the controversy, TransMedics and its executives are now defendants in a securities class action lawsuit filed in the U.S. District Court for Massachusetts. The complaint alleges that between February 28, 2023, and January 10, 2025—the period encompassing FDA approvals and rapid market expansion—the company misled investors about its business practices. Echoing Scorpion Capital's claims, it accuses TransMedics of: Using kickbacks and coercive tactics to drive revenue growth; Concealing safety issues tied to its OCS devices; Overbilling hospitals while forcing them into bundled service contracts. The lawsuit further claims that these practices subjected TransMedics to heightened regulatory scrutiny, culminating in public allegations from U.S. Representative Paul Gosar in February 2024 about price gouging and resource misappropriation. Hagens Berman's Investigation Prominent class action law firm Hagens Berman is investigating whether TransMedics may have violated the U.S. securities laws. 'We are looking into whether TransMedics' growth was fueled by undisclosed illicit sales practices,' said Reed Kathrein, the Hagens Berman partner leading the investigation. If you invested in TransMedics and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now » If you'd like more information and answers to frequently asked questions about the TransMedics case and our investigation, read more » Whistleblowers: Persons with non-public information regarding TransMedics should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected]. Contact:
Associated Press
28-03-2025
- Business
- Associated Press
TMDX REMINDER: Suffer Losses on TransMedics Group? Contact BFA Law by April 15 Class Action Deadline
NEW YORK, March 28, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against TransMedics Group, Inc. (NASDAQ: TMDX) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in TransMedics, you are encouraged to obtain additional information by visiting Investors have until April 15, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased TransMedics securities. The case is pending in the U.S. District Court for the District of Massachusetts and is captioned Jewik v. TransMedics Group, Inc. et al, No. 25-cv-10385. Why was TransMedics Sued for Fraud? TransMedics is a commercial-stage medical technology company. The Company's 'Organ Care System' ('OCS') is a medical device that keeps donor organs viable before transplant by replicating many aspects of the organ's natural living and functioning environment outside of the human body. The complaint alleges that TransMedics misrepresented that its business was driven by kickbacks, fraudulent overbilling, and coercive tactics. The complaint further alleges that the company misrepresented that it engaged in unsafe practices involving OCS, hid safety issues, and generally lacked safety oversight. The Stock Declines as the Truth is Revealed On February 21, 2024, U.S. Representative and member of the House Committee on Oversight and Accountability Paul Gosar issued a letter accusing the Company of misconduct including overcharging for OCS and misappropriating corporate resources. This news allegedly caused the price of TransMedics stock to decline approximately 4% over two trading days, from $86.99 per share on February 21, 2024 to $83.14 per share on February 23, 2024. On December 2, 2024, TransMedics announced the resignation of its CFO from that role and narrowed its financial outlook for 2024. Then, on January 10, 2025, Scorpion Capital issued a research report explaining that TransMedics's growth was fueled by an anti-competitive scheme that included kickbacks to medical providers to use the company's products and that TransMedics further boosted growth by operating an organ trafficking scheme, engaged in widespread billing fraud, and promoted off-label use. The publication of the Scorpion Capital report caused the price of TransMedics stock to decline an additional 5%, from $72.55 per share on January 8, 2025 to $68.81 per share on January 10, 2025. Click here for more information: . What Can You Do? If you invested in TransMedics you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: Or contact: 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Associated Press
10-03-2025
- Business
- Associated Press
TMDX CLASS ACTION ALERT: Lose Money when TransMedics Group, Inc. Plummeted 30%? Contact BFA Law about the Class Action Lawsuit
NEW YORK, March 10, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against TransMedics Group, Inc. (NASDAQ: TMDX) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in TransMedics, you are encouraged to obtain additional information by visiting Investors have until April 15, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased TransMedics securities. The case is pending in the U.S. District Court for the District of Massachusetts and is captioned Jewik v. TransMedics Group, Inc. et al, No. 25-cv-10385. Why was TransMedics Sued for Fraud? TransMedics is a commercial-stage medical technology company. The Company's 'Organ Care System' ('OCS') is a medical device that keeps donor organs viable before transplant by replicating many aspects of the organ's natural living and functioning environment outside of the human body. The complaint alleges that TransMedics misrepresented that its business was driven by kickbacks, fraudulent overbilling, and coercive tactics. The complaint further alleges that the company misrepresented that it engaged in unsafe practices involving OCS, hid safety issues, and generally lacked safety oversight. The Stock Declines as the Truth is Revealed On February 21, 2024, U.S. Representative and member of the House Committee on Oversight and Accountability Paul Gosar issued a letter accusing the Company of misconduct including overcharging for OCS and misappropriating corporate resources. This news allegedly caused the price of TransMedics stock to decline approximately 4% over two trading days, from $86.99 per share on February 21, 2024 to $83.14 per share on February 23, 2024. On December 2, 2024, TransMedics announced the resignation of its CFO from that role and narrowed its financial outlook for 2024. Then, on January 10, 2025, Scorpion Capital issued a research report explaining that TransMedics's growth was fueled by an anti-competitive scheme that included kickbacks to medical providers to use the company's products and that TransMedics further boosted growth by operating an organ trafficking scheme, engaged in widespread billing fraud, and promoted off-label use. The publication of the Scorpion Capital report caused the price of TransMedics stock to decline an additional 5%, from $72.55 per share on January 8, 2025 to $68.81 per share on January 10, 2025. Click here for more information: . What Can You Do? If you invested in TransMedics you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: Or contact: 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Associated Press
04-03-2025
- Business
- Associated Press
TMDX CLASS ACTION: Lose Money on TransMedics Group, Inc.? Investors are Notified to Contact BFA Law before April 15 Class Action Deadline (NASDAQ:TMDX)
NEW YORK, March 04, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against TransMedics Group, Inc. (NASDAQ: TMDX) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in TransMedics, you are encouraged to obtain additional information by visiting Investors have until April 15, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased TransMedics securities. The case is pending in the U.S. District Court for the District of Massachusetts and is captioned Jewik v. TransMedics Group, Inc. et al, No. 25-cv-10385. Why was TransMedics Sued for Fraud? TransMedics is a commercial-stage medical technology company. The Company's 'Organ Care System' ('OCS') is a medical device that keeps donor organs viable before transplant by replicating many aspects of the organ's natural living and functioning environment outside of the human body. The complaint alleges that TransMedics misrepresented that its business was driven by kickbacks, fraudulent overbilling, and coercive tactics. The complaint further alleges that the company misrepresented that it engaged in unsafe practices involving OCS, hid safety issues, and generally lacked safety oversight. The Stock Declines as the Truth is Revealed On February 21, 2024, U.S. Representative and member of the House Committee on Oversight and Accountability Paul Gosar issued a letter accusing the Company of misconduct including overcharging for OCS and misappropriating corporate resources. This news allegedly caused the price of TransMedics stock to decline approximately 4% over two trading days, from $86.99 per share on February 21, 2024 to $83.14 per share on February 23, 2024. On December 2, 2024, TransMedics announced the resignation of its CFO from that role and narrowed its financial outlook for 2024. Then, on January 10, 2025, Scorpion Capital issued a research report explaining that TransMedics's growth was fueled by an anti-competitive scheme that included kickbacks to medical providers to use the company's products and that TransMedics further boosted growth by operating an organ trafficking scheme, engaged in widespread billing fraud, and promoted off-label use. The publication of the Scorpion Capital report caused the price of TransMedics stock to decline an additional 5%, from $72.55 per share on January 8, 2025 to $68.81 per share on January 10, 2025. Click here for more information: . What Can You Do? If you invested in TransMedics you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: Or contact: 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Associated Press
02-03-2025
- Business
- Associated Press
TMDX REMINDER: TransMedics Group, Inc. was Sued for Securities Fraud; Investors are Alerted to Contact BFA Law before April 15 Deadline (NASDAQ:TMDX)
NEW YORK, March 02, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against TransMedics Group, Inc. (NASDAQ: TMDX) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in TransMedics, you are encouraged to obtain additional information by visiting Investors have until April 15, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased TransMedics securities. The case is pending in the U.S. District Court for the District of Massachusetts and is captioned Jewik v. TransMedics Group, Inc. et al, No. 25-cv-10385. Why was TransMedics Sued for Fraud? TransMedics is a commercial-stage medical technology company. The Company's 'Organ Care System' ('OCS') is a medical device that keeps donor organs viable before transplant by replicating many aspects of the organ's natural living and functioning environment outside of the human body. The complaint alleges that TransMedics misrepresented that its business was driven by kickbacks, fraudulent overbilling, and coercive tactics. The complaint further alleges that the company misrepresented that it engaged in unsafe practices involving OCS, hid safety issues, and generally lacked safety oversight. The Stock Declines as the Truth is Revealed On February 21, 2024, U.S. Representative and member of the House Committee on Oversight and Accountability Paul Gosar issued a letter accusing the Company of misconduct including overcharging for OCS and misappropriating corporate resources. This news allegedly caused the price of TransMedics stock to decline approximately 4% over two trading days, from $86.99 per share on February 21, 2024 to $83.14 per share on February 23, 2024. On December 2, 2024, TransMedics announced the resignation of its CFO from that role and narrowed its financial outlook for 2024. Then, on January 10, 2025, Scorpion Capital issued a research report explaining that TransMedics's growth was fueled by an anti-competitive scheme that included kickbacks to medical providers to use the company's products and that TransMedics further boosted growth by operating an organ trafficking scheme, engaged in widespread billing fraud, and promoted off-label use. The publication of the Scorpion Capital report caused the price of TransMedics stock to decline an additional 5%, from $72.55 per share on January 8, 2025 to $68.81 per share on January 10, 2025. Click here for more information: . What Can You Do? If you invested in TransMedics you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Or contact: 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
