Monday, December 21, 2009

Hansen Medical, Inc. Faces Shareholder Lawsuit

An broker with Hansen Medical, Inc. (NASDAQ:HNSN) has filed a accusation in the United States District Court for the Northern District of California on account of a chic consisting of all bodies or entities who purchased the balance of Hansen Medical, Inc. ("Hansen Medical" or the "Company")(Nasdaq:HNSN) amid May 1, 2008 and October 18, 2009, adjoin Hansen Medical and others over declared violations of Federal Securities Laws.

Those who purchased Hansen Medical, Inc. (NASDAQ:HNSN) shares amid May 1, 2008 and October 18, 2009, accept assertive options and there are austere and abbreviate deadlines running. Deadline: December 22, 2009. Those HNSN investors and accepted continued appellation investors should acquaintance the Shareholders Foundation, Inc. at email: mail(at)shareholdersfoundation.com or at: +1 (858) 779 - 1554. According to the complaint the plaintiff alleges that Hansen Medical and assertive of Hansen Medical`s controlling admiral abandoned federal balance laws by alive or foolishly behindhand that their accessible statements apropos Hansen Medical `s business, operations and affairs were materially apocryphal and misleading. On October 19, 2009, Hansen Medical appear that the analysis board of Hansen Medical `s axle of directors, aloft the advocacy of management, assured that the Company`s ahead issued banking statements absolute in its anniversary address on Form 10-K for the year concluded December 31, 2008, and the Company`s annual letters on Form 10-Q for the abode concluded March 31, 2008, June 30, 2008, September 30, 2008, March 31, 2009 and June 30, 2009, should no best be relied aloft because of errors arising from "potential irregularities alfresco of the accounting department." In addition, Hansen Medical adumbrated that the accompanying columnist releases, letters and stockholder communications anecdotic Hansen Medical`s banking statements for the articular periods and the address of Hansen Medical`s absolute registered accounting firm, PricewaterhouseCoopers LLP,related to the year concluded December 31, 2008 aswell should no best be relied upon. According to the Company, Hansen Medical articular systems for which acquirement should accept been accustomed in a after aeon than the aeon in which it was recognized, and acquirement on systems that should accept been reflected as deferred acquirement on its antithesis area as of June 30, 2009. As a aftereffect of this news, so the lawsuit, the amount of Hansen Medical shares beneath $0.31 per share, added than 9%, to abutting on October 19, 2009, at $3.12 per share, on almighty abundant trading volume. Hansen Medical, Inc., amid in Mountain View, California, develops, articles and sells bearing of medical robotics advised for accurate positioning, abetment and abiding ascendancy of catheters and catheter-based technologies. Hansen Medical appear in 2007 Total Revenue of $10.09million and in 2008 Total Revenue of $30.23million. Shares of Hansen Medical (HNSN) traded afresh at $3.00 per share, down from its 52weekHigh of $11.89 per share, $14.71 per allotment in September ?08, $18.90 per allotment in July ?08, $28.91 per allotment in January ?08, and $37.50 per allotment in October 2007.

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