Litigation Team Wins Dismissal of Shareholder Derivative Suit Against Abiomed Directors
A Ropes & Gray litigation team has won the June 21 dismissal of a shareholder derivative action asserting claims against individual members of Abiomed Inc.’s board of directors in the United States District Court, District of Massachusetts. Abiomed develops products designed to enable the heart to rest by improving blood flow and/or performing the pumping of the heart. The plaintiff contended that the directors breached their fiduciary duties in failing to adequately respond to, and disclose the potential consequences of, warning letters that the Food and Drug Administration sent to Abiomed about the marketing and labeling of one of its products.
The Ropes & Gray litigation team was led by partner John Donovan and included associate Daniel Ward.