San Diego, CA -- (SBWIRE) -- 01/27/2014 -- An investor, who purchased shares of Thoratec Corporation (NASDAQ:THOR), filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Thoratec Corporation in connection with certain allegedly false and misleading statements made between April 29, 2010 and November 27, 2013.

Investors who purchased shares of Thoratec Corporation (NASDAQ:THOR) have certain options and for certain investors are short and strict deadlines running. Deadline: March 24, 2014. NASDAQ:THOR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Thoratec Corporation (NASDAQ:THOR) between April 29, 2010 and November 27, 2013, that Thoratec Corporation and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff claims that defendants failed to disclose that the Company's HeartMate II Left Ventricular Assist Device had significant risk of pump thrombosis, causing numerous fatalities and that as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.

On April 4, 2012, U.S. regulators ordered a recall for the company's HeartMate II heart pumps.

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 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.

On Jan. 24, 2013, NASDAQ:THOR shares closed at $34.94 per share.

Those who purchased shares of Thoratec Corporation (NASDAQ:THOR) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com