Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, announces that a federal class action lawsuit has been filed against Nevro Corp. (“Nevro” or “Company”) (NYSE: NVRO) and several officers and directors for acts taken during the period of January 8, 2018 and July 12, 2018 (the “Class Period”).
Based upon the allegations in the class action, the firm is investigating additional legal claims against the officers and Board of Directors of Nevro. If you are an affected Nevro shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at email@example.com or call toll free at (888) 809-2750. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that on July 10, 2018, analysts reported that a tentative court ruling in patent litigation involving Nevro nullified at least five patents related to the Company’s “proprietary” HF10 pain therapy and Senza delivery systems, which resulted in some analysts downgrading the Company. Then, on July 13, 2018, the Company disclosed pre-market that it had terminated the employment of James Alecxih, Vice President, Worldwide Sales. Nevro’s share price plummeted after each of these events, wiping out over $650 million in market capitalization.
The Briscoe Law Firm, PLLC is a full-service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.