LivaNova (NSDQ:LIVN) said today that it plans to stop trading on the London Stock Exchange, citing the low volume of trading in its shares there.
Formed by the $3 billion merger of Sorin Group and Cyberonics, LivaNova said it plans to stop trading on the LSE as of the close of trading there April 4. LIVN shares will still be available on the NASDAQ exhange, “where today the vast majority of trading in LivaNova shares occurs,” according to a press release.
“The company is announcing this decision now to provide sufficient time for shareholders who may be unable to hold shares on NASDAQ to liquidate their holdings in an orderly manner,” LivaNova said.
The London-based company this week recalled its FlexTherm heater-cooler over design issues. Last October, the U.S. Centers for Disease Control & Prevention warned of the risk of serious bacterial infection in open heart surgery patients patients from a device made by Sorin.
Longtime CEO André-Michel Ballester resigned at the end of last year and was replaced by former COO Damien McDonald.
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FDA and CDC suggest hospitals should warn patients of the risk of bacterial infection to mitigate risk https://trulaw.com/heater-cooler/heater-cooler-system-lawsuit/
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