According to the lawsuit, throughout the Class Period, the Company and its senior executives misled investors and/or failed to disclose that: (1) TransMedics used kickbacks, fraudulent overbilling, and coercive tactics to generate business and revenue; (2) TransMedics concealed safety issues and a lack of safety oversight within the organization.

Investors learned the truth about TransMedics on February 21, 2024, when U.S. Rep. Paul Gosar sent a letter to the Company accusing it of, among other things, misappropriating corporate resources and gouging transplant centers. On this news, the price of TransMedics stock fell $2.18 per share, or 2.5%, to a close of $84.81 per share on February 22, 2024.

Then, on January 10, 2025, Scorpion Capital issued a report accusing TransMedics of, among other things, overbilling hospitals and providing patients with organs that had been rejected by reputable physicians. According to the action, on this news, TransMedics shares fell $3.74 per share, or 5%, to a closing price of $68.81 on January 10, 2025, and another $4.76 per share (6.9%) on January 13, 2025, to close at $64.05 per share.

Investors who purchased or acquired TransMedics securities between February 28, 2023 and January 10, 2025, may no later than April 15, 2025, seek to be appointed as a lead plaintiff representative of the class.