SAN FRANCISCO, CA / ACCESSWIRE / August 16, 2022 / Outset Medical (OM) investors who experienced losses between September 15, 2020 and June 13, 2022 are urged to contact the Lieff Cabraser law firm immediately regarding the pending securities fraud class action against Outset Medical. The upcoming application deadline to apply to be a lead plaintiff is September 6, 2022.
Class Period: September 15, 2020 - June 13, 2022
Lead Plaintiff Motion Deadline: September 6, 2022
For more information: https://www.lieffcabraser.com/securities/outset-medical/
Contact Lieff Cabraser: [email protected] or 1-800-541-7358
The action alleges that Outset misled investors and/or failed to disclose material information about its chief product, the Tablo Hemodialysis System ("Tablo").
On May 4, 2022, after markets closed, Outset announced disappointing financial results for the first quarter of 2022, which analysts attributed in part to Tablo's untested performance in the home setting. On this news, the price of Outset common stock fell $16.88, or 2.26% over the next three trading days, from a closing price of $39.94 per share on Wednesday, May 4, 2022, to close at $23.06 per share on Monday, May 9, 2022, on elevated trading volume.
On June 13, 2022, after markets closed, Outset announced that the FDA required the Company to suspend all shipments of Tablo for home use until Outset obtained the requisite regulatory clearance. On this news, the price of Outset stock fell $6.95, or 34.05%, from a closing price of $20.41 per share on June 13, 2022, to close at $13.46 per share on June 14, 2022, on extremely heavy trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 100 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a "Plaintiffs' Powerhouse" by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $124 billion in verdicts and settlements. Lieff Cabraser is committed to ensuring access to justice for all.
SOURCE: Lieff Cabraser Heimann & Bernstein