Several purported shareholder class action lawsuits have been filed against Possis and certain of the Company's executive officers with violations of federal securities laws. Plaintiff claims defendants' omissions and material misrepresentations during the Class Period artificially inflated Possis' stock price, inflicting damages on investors. Possis develops, manufactures, and markets medical devices, including the AngioJet System - a non-surgical, minimally invasive catheter system designed to rapidly remove blood clots using a stream of water.

Specifically, the Complaint alleges that during the Class Period defendants failed to disclose and/or misrepresented material adverse facts, including that: (a) the AngioJet System, the Company's key product, was not more effective than existing alternatives, including competing drug therapies, nor did AngioJet reduce significant procedural complications or significantly increase positive benefits such as improved blood flow or other similar effects; (b) the AngioJet could not be expanded as a "technology platform" because AngioJet was not in the first instance effective for routine use in a broad range of heart attack patients to reduce the size of a patient's damaged tissue area; and (c) as a result of the foregoing problems, Possis could not maintain its projected revenue growth or achieve sustained revenue growth targets as high as 35%.

The Complaint further alleges that defendants were motivated to and did conceal the true safety and efficacy of AngioJet, and defendants' ability to expand and develop Possis' AngioJet technology, because it enabled defendants to artificially inflate the price of Possis shares and then allowed defendants and other Company insiders to sell more than 361,730 shares of their privately held Possis stock to the unsuspecting public for proceeds in excess of $7.07 million while in possession of material adverse, non-public information about the Company.

On or around August 24, 2004, it was disclosed that AngioJet failed to demonstrate clinical superiority in the majority of heart attack patients, causing Possis' share price to plummet more than 38%. As a result, the Company lost almost 40% of its market capitalization after Possis shares traded down more than $11.75 per share, to $19.00 per share, as defendants lowered the Company's 2005 earnings and revenue guidance.

If you bought Possis Medical, Inc. securities between September 24, 2002 and August 24, 2004, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (866) 467-1400 to speak with an attorney.