HARTFORD, Conn., Aug. 10, 2004 Legal news, law …

HARTFORD, Conn., Aug. 10, 2004 Legal news, law news, law firm news & research at LAWFUEL The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of California on behalf of all persons who purchased the publicly traded securities of Thoratec Corporation (Nasdaq: THOR) ("Thoratec") between April 28, 2004 and June 29, 2004, inclusive (the "Class Period"). The Complaint alleges that Thoratec and certain of its officers and directors issued materially false statements concerning the Company's business condition. Specifically, Thoratec failed to disclose and misrepresented the following material adverse facts: (i) Thoratec significantly underestimated the time and the resources necessary to develop a stable market for its much touted Destination Therapy; (ii) Thoratec exaggerated the ultimate size of the market for the Destination Therapy, while underplaying the risk presented by competitive products and alternative therapies; (iii) Thoratec ignored the reluctance of the medical community to treat non-critical patients with the product, in order to take advantage of the higher reimbursement levels available from Medicare beginning October 1, 2004; and (iv) that as a consequence of the foregoing, defendants lacked a reasonable basis for their positive statements about Thoratec's growth and progress. On June 29, 2004, Thoratec provided an update on its business activities and outlook for the balance of 2004. The company said that it expected total Destination Therapy implants for 2004 will be approximately 200. Thoratec said that it expected revenues for all of 2004 will be approximately $175-$180 million, with taxed cash earnings per share in the range of $0.23-$0.26. These numbers were well below expectations. On this news, shares of Thoratec fell $3.69 per share or 25.52%, on June 30, 2004, to close at $10.74 per share. If you are a member of the class, you may, no later than October 4, 2004 request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s). For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com. To view a copy of the lawsuit initiating the class action, or for more information about class action cases and Schatz & Nobel, please visit our website: http://www.snlaw.net. Web Site: http://www.snlaw.net

HARTFORD, Conn., Aug. 10, 2004 Legal news, law …

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