Law Offices of Howard G. Smith announces that it is investigating potential claims against Hansen Medical, Inc. (“Hansen Medical” or the “Company”) (NASDAQ:HNSN), concerning possible securities violations related to the Company’s publicly filed financial statements for 2008 and the first two quarters of 2009. Hansen Medical develops, manufactures and markets medical robotics designed for accurate positioning, manipulation, and stable control of catheters and catheter-based technologies.
The investigation concerns the Company’s October 19, 2009, announcement that it plans to restate its financial statements for the year ended December 31, 2008 and for the quarters ended March 31, 2008, June 30, 2008, September 30, 2008, March 31, 2009 and June 30, 2009, “in order to correct certain errors regarding the timing of revenue recognition on the sale of some of its Sensei Robotic Catheter Systems.” According to the Company, the errors “arose from potential irregularities occurring outside of the accounting department, regarding the timing of revenue recognition” for the sales. As a result of this news, shares of Hansen Medical declined approximately 10%, to close on October 19, 2009, at $3.12 per share on unusually heavy volume of more than 1.5 million shares traded.
If you purchased Hansen Medical, Inc. stock during the foregoing periods, or if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com.
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215)
638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
