Health & Fitness
Mon, December 12, 2011
NEW ORLEANS--([ BUSINESS WIRE ])--Kahn Swick & Foti, LLC ("KSF") and KSF Partner Former Attorney General of Louisiana, Charles C. Foti, Jr. announce the commencement of an investigation into Invacare Corp. (NYSE:IVC), following the Food and Drug Administrationas proposal of a consent decree requiring a work shutdown, based on violations found during inspections of the Elyria, Ohio-based company.
Invacare Corp., maker of home and long-term care medical products, plunged the most in 27 years -- falling 29% to $14.70 at the close of trading, the biggest single-day decline since Dec. 27, 1984 -- after saying U.S. regulators proposed suspending some operations at its headquarters and a wheelchair plant in Ohio.
The Food and Drug Administration proposed a consent decree requiring the work shutdown based on violations found during inspections of the Elyria, Ohio-based company. Operations would not resume until the FDA concludes Invacare is in compliance with the FDAas regulations.
If you have information that would assist KSF in its investigation, or would like to discuss your legal rights as a shareholder, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn ([ lewis.kahn@ksfcounsel.com ]), toll free 1-877-515-1850, or after hours via cell phone 504-301-7900.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation. The firm has offices in New York and Louisiana. To learn more about KSF, you may visit [ www.ksfcounsel.com ].
