LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that all purchasers of the securities of TranS1 Inc. (“TranS1” or the “Company”) (NASDAQ:TSON) between February 21, 2008 and October 17, 2011, inclusive (the “Class Period”) have until March 26, 2012 to file a motion with the Court to be appointed as Lead Plaintiff. The securities fraud class action lawsuit was filed in the United States District Court for the Eastern District of North Carolina.
TranS1 is a medical device company that designs, develops and markets products that implement its proprietary surgical approach to treat degenerative conditions of the spine affecting the lower lumbar region. The Complaint alleges that during the Class Period the Company and certain of its executive officers misrepresented or failed to disclose material adverse facts about the Company’s business, operations and financial performance, including that: (i) the Company was not in compliance with federal healthcare fraud and false claim statutes; (ii) the Company engaged in improper reimbursement practices; (iii) the Company lacked adequate internal and financial controls; and (iv), as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.
Any person or group who purchased TranS1 securities between February 21, 2008 and October 17, 2011 and suffered a loss may ask the Court to be appointed as Lead Plaintiff, but must file a motion no later than March 26, 2012. To be a member of the class you need not take action at this time; you may retain counsel of your choice or take no action and remain an absent class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.
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