Thoratec Corporation (NASDAQ:THOR) Investor Investigation Concerning Possible Violations Of Securities Laws Announced

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Company Name(s): 
Thoratec
Affected Securities: 
NASDAQ: THOR

December 13, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Thoratec Corporation (NASDAQ:THOR) shares over potential securities laws violations by Thoratec and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Thoratec Corporation (NASDAQ:THOR) concerning whether a series of statements by Thoratec regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Thoratec Corporation reported that annual Total Revenue rose from $422.71 million in 2011 to $491.65 million in 2012, while its respective Net Income declined from $71.55 million to $56.16 million. On March 30, 2013, Thoratec Corporation reported its frist quarter 2013 results. Among other things, Thoratec Corporation reported for the first quarter 2013 revenues of $117.70 million. On July 31, 2013, Thoratec Corporation reported its second quarter 2013 results. For the second quarter Thoratec Corporation reported revenues of $130.50 million.

On October 30, 2013. Thoratec Corporation its third quarter 2013 results. For the third quarter 2013 Thoratec Corporation reported revenues of $126.40 million.

Shares of Thoratec Corporation (NASDAQ:THOR) grew from $29.14 in early 2012 to as high as $43.30 per share on November 15, 2013.

Then on November 27, 2013, a study conducted by the Cleveland Clinic was published in the New England Journal of Medicine that said that an increasing rate of blood clots in patients implanted with the company's HeartMate II pump the Company's HeartMate II device caused a high incidence of blood clots in heart patients.

Shares of Thoratec Corporation (NASDAQ:THOR) declined from $43.30 per share on November 15, 2013, to $35.68 per share on December 13, 2013.