January 10, 2018 - The court granted the defendants' motion to dismiss.

August 11, 2017 - A motion to dismiss the amended complaint was filed.

June 27, 2017 - An amended complaint was filed.

April 26, 2016 - The case was transferred to the U.S. District Court for the District of Minnesota.

February 12, 2016 - An investor in shares of Cardiovascular Systems Inc (NASDAQ: CSII) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Cardiovascular Systems Inc in connection with certain allegedly false and misleading statements made between September 12, 2011 and January 21, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Cardiovascular Systems Inc (NASDAQ: CSII) common shares between September 12, 2011 and January 21, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 12, 2011 and January 21, 2016 issued allegedly false and misleading statements to investors and/or allegedly failed to disclose that Cardiovascular Systems distributed illegal kickbacks to health care providers, that Cardiovascular Systems engaged in the off-label promotion of its medical devices, and that Cardiovascular Systems violated FDA laws and regulations in connection with its medical devices.

On May 9, 2014, Cardiovascular Systems Inc disclosed that it had received a letter on May 8, 2014 from the U.S. Attorney's Office for the Western District of North Carolina stating that the Company is being investigated for possible violations of the False Claims Act, resulting in the submission of false claims to federal and state health care programs, including Medicare and Medicaid.

On July 8, 2015, Cardiovascular Systems Inc disclosed that a whistleblower lawsuit filed in 2013 had been unsealed. The lawsuit, brought by a former sales manager of Cardiovascular Systems Inc, alleged that Cardiovascular Systems Inc engaged in a fraudulent marketing scheme to maximize profits through illegal kickbacks, off-label promotion, and violations of federal laws and regulations. The lawsuit alleges several schemes to drive up sales, including kickbacks in which doctors were sent on all-expense-paid trips for training seminars in fancy settings and then told to use Cardiovascular Systems Inc devices on their next five or ten cases.

Cardiovascular Systems Inc reported that its Total Revenue rose from $136.61 million for the 12 months period that ended on June 30, 2014 to $181.54 million for the 12 months period that ended on June 30, 2015 and that its respective Net Loss for those respective time period declined from $35.29 million to $32.82 million.

On January 21, 2016, Cardiovascular Systems Inc reported its fiscal 2016 second quarter financial results and issued its fiscal 2016 third-quarter outlook.

On January 26, 2016, NASAQ: CSII shares closed at $9.20 per share.