Dhimant Patel, et al. v. Edwards Lifesciences Corporation, Bernard J. Zovighian, Larry L. Wood and Scott B. Ullem

BLB&G represents the Court-appointed Lead Plaintiffs Louisiana Sheriffs’ Pension & Relief Fund and Fort Lauderdale Police & Firefighters’ Retirement System (together, “Lead Plaintiffs”) in this securities fraud class action on behalf of investors who purchased the common stock of Edwards Lifesciences Corp. (“Edwards”) during the Class Period (defined below). This action asserts claims against Edwards and its Chief Executive Officer, Bernard J. Zovighian (together, “Defendants”) for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

Lead Plaintiffs Have Reached a Proposed Settlement of the Action for $39 Million

Lead Plaintiffs, on behalf of themselves and the Settlement Class (defined below), have reached a proposed settlement of the Action for $39,000,000 in cash that, if approved, will resolve all claims in the Action (the “Settlement”).

If you are a member of the Settlement Class, your rights will be affected and you may be eligible for a payment from the Settlement.  The Settlement Class consists of:

all persons or entities who purchased or otherwise acquired Edwards common stock during the period from February 6, 2024, through July 24, 2024, inclusive (the “Class Period”), and were damaged thereby.

Certain persons and entities are excluded from the Settlement Class by definition (see paragraph 30 of the Notice) or may request exclusion from the Settlement Class pursuant to the instructions set forth in the Notice (see paragraph 55 of the Notice).

Please read the Notice to fully understand your rights and options.  Copies of the Notice and Claim Form can be found in the Case Documents list on the right of this page.  You may also visit the Settlement website, www.EdwardsLifesciencesSecuritiesLitigation.com, for more information about the Settlement.

To be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked (if mailed) or submitted on-line by no later than December 2, 2026.

Payments to eligible claimants will be made only if the Court approves the Settlement and a plan of allocation, and only after any appeals are resolved, and after the completion of all claims processing.  Please be patient, as this process will take some time to complete.

YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT
SUBMIT A CLAIM FORM POSTMARKED (IF MAILED), OR ONLINE, NO LATER THAN DECEMBER 2, 2026.	This is the only way to be eligible to receive a payment from the Settlement. If you are a Settlement Class Member and you remain in the Settlement Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiffs’ Claims (defined in paragraph 35 of the Notice) that you have against Defendants and the other Released Defendants’ Parties (defined in paragraph 36 of the Notice), so it is in your interest to submit a Claim Form. In short, if you remain a Settlement Class Member, you will release all claims related to this Action, as detailed in paragraph 34 of the Notice.
EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS RECEIVED NO LATER THAN DECEMBER 2, 2026.	If you exclude yourself from the Settlement Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that allows you ever to be part of any other lawsuit against any of the Defendants or the other Released Defendants’ Parties concerning the Released Plaintiffs’ Claims.
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN DECEMBER 2, 2026.	If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and Litigation Expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation, or the fee and expense request unless you are a Settlement Class Member and do not exclude yourself from the Settlement Class.
GO TO A HEARING ON DECEMBER 16, 2026, AT 1:30 P.M. PACIFIC TIME	Filing a written objection and notice of intention to appear by December 2, 2026 allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and Litigation Expenses. If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection.
DO NOTHING.	If you are a member of the Settlement Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action. In short, if you remain a Settlement Class Member and do not submit a valid Claim Form, you will still release all claims related to this Action, as detailed in paragraph 34 of the Notice.

Edwards’ Alleged Fraud

Edwards is a medical technology company specializing in solutions for cardiovascular disease. The company develops products for heart valve repair and replacement therapies, as well as critical care solutions. These products include artificial valves as part of the company’s transcatheter aortic valve replacement (“TAVR”) technology, devices used in transcatheter mitral and tricuspid therapies (“TMTT”), and valves produced for traditional open chest procedures.

The claims arise from defendants’ materially false and misleading statements and omissions concerning the growth prospects of the company’s core product, its TAVR platform. Specifically, during the Class Period, defendants touted the strength of its TAVR platform and assured investors of the company’s ability to capitalize on purportedly large numbers of untreated patients and of significant demand in lower-penetrated markets. The company also dismissed concerns regarding potential capacity constraints in hospitals that might limit physicians’ ability to perform TAVR procedures at the scale necessary to increase TAVR sales to the extent the company was promising investors. As a result of these misrepresentations, the price of Edwards common stock traded at artificially inflated prices during the Class Period.

In reality, Edwards knew that the TAVR platform was struggling to meet its forecasted sales and that its patient “activation” activities were failing to reach the low-treatment population the company had described to investors as key to the platform’s growth. The truth emerged on July 24, 2024, when Edwards revealed it had underperformed in Q2 2024 and was slashing its guidance for the TAVR platform for the full fiscal year 2024. Edwards revealed this was due to new therapies placing significant strain on hospital structural heart teams such that they were under-utilizing TAVR. As a result of these disclosures, the price of Edwards common stock declined precipitously.