Nevro Corp

Case Details

Class Period:
January 8, 2018 – July 12, 2018
Date Filed:
August 23, 2018
Case Number:
Northern District of California

Case Summary

Throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Nevro had engaged in a fraudulent scheme by using protected confidential and proprietary trade secrets and stolen documents from its competitors to develop and enhance the Company’s Senza I and Senza II systems; (2) that as a result, the Company’s Senza I and Senza II systems were not “novel” or “proprietary;” (3) that these practices caused the Company to be vulnerable to increased litigation expenses and adverse legal and regulatory action; (4) that, as a result, Nevro’s U.S. sales growth was not sustainable; and (5) that, as a result of the foregoing, Defendants’ statements about Nevro’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

On January 18, 2019, Lead Plaintiff filed the Amended Complaint with the Court. Defendants will file their motion to dismiss the Amended Complaint on or before February 15, 2019. Lead Plaintiff will file its response in opposition to Defendants’ motion on or before March 15, 2019 and Defendants will file their reply brief on or before April 5, 2019.

Action Details

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