Nevro Corp

Case Details

Class Period:
January 8, 2018 – July 12, 2018
Date Filed:
August 23, 2018
Case Number:
3:18-cv-05181
Jurisdiction:
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.

Action Details

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