The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Nevro Corp. (NYSE: NVRO) who purchased shares between January 8, 2018 and July 12, 2018. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Nevro lawsuit alleges that (1) 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) as a result, Nevro’s Senza I and Senza II systems were not “novel” or “proprietary;” (3) these practices caused Nevro to be vulnerable to increased litigation expenses and adverse legal and regulatory action; (4) as a result, Nevro’s U.S. sales growth was not sustainable; and (5) consequently, defendants’ statements about Nevro’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
Shareholders have until October 22, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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