(DALLAS) Kendall Law Group, led by a former federal judge and former US Attorney, announces a shareholder investigation on behalf of Hansen Medical (NASDAQ: HNSN) in connection with publicly filed financial statements for 2008 and the first two quarters of 2009.
The firm’s investigation concerns Hansen’s announcement on October 19, 2009 that it plans to restate certain financial statements “correcting errors regarding the timing of revenue recognition on the sale of some of its Sensei Robotic Catheter Systems.” The Company states that the errors “arose from potential irregularities occurring outside of the accounting department, regarding the timing of revenue recognition.” The related statements include the year ended December 31, 2008 and for the quarters ending March 31, 2008, June 30, 2008, September 30, 2008, March 31, 2009 and June 30, 2009.
On this news, Hansen Medical shares dropped almost 10%, closing at $3.12 on October 19, 2009 with a heavy trading volume of 1.5 million shares.
Kendall Law Group has nationwide experience representing investors in securities class actions. For information about your rights as a Hansen Medical shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
Tags: Hansen Medical, HNSN, Kendall Law Group, Shareholder Investigation