LOS ANGELES, CA / ACCESSWIRE / August 5, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Outset Medical, Inc. ("Outset" or "the Company") (NASDAQ:OM) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between September 15, 2020 and June 13, 2022, inclusive (the ''Class Period''), are encouraged to contact the firm before September 6, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Outset required an additional 510(k) application due to having "continuously made improvements and updates to Tablo over time since its original clearance." The Company could not conduct a human factors study using a cleared device following FDA protocols. The Company's failure to complete a human factors study was likely to lead to the FDA placing a "shipment hold" and marketing suspension on the Tablo product. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Outset, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
SOURCE: The Schall Law Firm