Glancy Binkow & Goldberg LLP announces that a class action lawsuit
has been filed in the United States District Court for the Eastern
District of North Carolina on behalf of purchasers of the securities of
TranS1 Inc. between February 21, 2008 and October 17, 2011, inclusive
(the “Class Period”), seeking to pursue remedies under the Securities
Exchange Act of 1934.
TranS1 is a medical device company that designs, develops and markets
products that implement its proprietary surgical approach to treat
degenerative conditions of the spine affecting the lower lumbar region.
The Complaint alleges that during the Class Period the Company and
certain of its executive officers misrepresented or failed to disclose
material adverse facts about the Company’s business, operations and
financial performance, including that: (i) the Company was not in
compliance with federal healthcare fraud and false claim statutes; (ii)
the Company engaged in improper reimbursement practices; (iii) the
Company lacked adequate internal and financial controls; and (iv), as a
result of the foregoing, the Company’s statements were materially false
and misleading at all relevant times.
No class has yet been certified in the above action. Until a class is
certified, you are not represented by counsel unless you retain one. If
you purchased TranS1 securities between February 21, 2008 and October
17, 2011, you have certain rights, and have until March 26, 2012, to
move for lead plaintiff status. To be a member of the class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent class member. If you wish to discuss
this action or have any questions concerning this Notice or your rights
or interests with respect to these matters, please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, by telephone at
(310) 201-9150 or Toll Free at (888) 773-9224
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