OM Investors Have Opportunity to Lead Outset Medical, Inc. Securities Fraud Lawsuit
Jul 27th, 2022 16:00 EST
LOS ANGELES, July 27, 2022 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Outset Medical, Inc. ("Outset" or the "Company") (NASDAQ: OM).
Class Period: September 15, 2020 – June 13, 2022Lead Plaintiff Deadline: September 6, 2022
If you wish to serve as lead plaintiff of the Outset lawsuit, you can submit your contact information at www.glancylaw.com/cases/outset-medical-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Defendants had "continuously made improvements and updates to Tablo over time since its original clearance" that required an additional 510(k) application; (2) as a result, the Company could not conduct a human factors study on a cleared device in accordance with FDA protocols; (3) the Company's inability to conduct the human factors study subjected the Company to the likelihood of the FDA imposing a "shipment hold" and marketing suspension, leaving the Company unable to sell the Tablo for home use; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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SOURCE Glancy Prongay & Murray LLP