NASDAQ:CSII Long-Term Investor Alert: Investigation of Cardiovascular Systems Inc
The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of Cardiovascular Systems Inc (NASDAQ:CSII), was initiated concerning whether certain Cardiovascular Systems officers and directors possibly breached their fiduciary duties in connection with certain statements.
St. Paul, MN based Cardiovascular Systems, Inc. is a medical device company.
Investors who are current long-term stockholders in shares of Cardiovascular Systems Inc (NASDAQ:CSII) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Cardiovascular Systems officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by, among other things, failing to implement adequate internal controls.
Cardiovascular Systems Inc reported that its Total Revenue rose from $78.78 million for the 12 months period that ended on June 30, 2011 to $82.49 million for the 12 months period that ended on June 30, 2012 and that its respective Net Loss increased from $11.12 million to $16.79 million.
Shares of Cardiovascular Systems Inc (NASDAQ:CSII) grew from $3.93 per share in July 2010 to as high as $20.69 per share on April 1, 2013.
On April 30, 2013 an article was published that said the U.S. attorney’s office for the Eastern District of New York issued subpoenas requesting information from three companies, including Cardiovascular Systems.
NASDAQ:CSII shares declined on April 30, 2013, to $16.66 per share.
On May 13, 2013, Shares of Cardiovascular Systems Inc closed at $18.19 per share.
Those who purchased shares of Cardiovascular Systems Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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