OUTSET MEDICAL SHAREHOLDER ALERT: CLAIMSFILER reminds investors with losses greater than $100,000 of the lead plaintiff deadline in a class action lawsuit against Outset Medical, Inc.
NEW ORLEANS, July 16, 2022 /PRNewswire/ — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until September 6, 2022 to file lead plaintiff claims in a securities class action lawsuit against Outset Medical, Inc. (“Outset” or the “Company”) (NasdaqGS: OM), if they purchased the Company’s stock between September 15, 2020 and June 13, 2022, inclusive (the “Class Period”). This action is in progress in United States District Court for the Northern District of California.
Early-stage investors should visit us at https://claimsfiler.com/cases/nasdaq-om/ or call toll-free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.
About the trial
CareDx and certain of its officers are accused of failing to disclose material information during the Class Period, in violation of federal securities laws.
Outset and certain of its officers are accused of failing to disclose material information during the Class Period, in violation of federal securities laws.
On May 5, 2022, the company disclosed negative results for 1Q2022, which, among other things, analysts attributed to the untested nature of Tablo, its flagship product which is a dialysis machine that purifies tap water, then purifies and removes artificially toxins from the blood of patients with renal failure. On the news, Outset’s stock fell more than 40% over the next three trading days, from a closing price of $39.94 per share on May 4, 2022at a closing price of $23.06 per share on May 9, 2022.
Then, on June 13, 2022, the company disclosed a suspension of all Tablo home-use shipments by the FDA until proper regulatory clearance has been received. The company later revealed that the “ship suspension” had been in place for weeks before investors were notified and that due to the suspension, the company “was suspending our prior full year guidance. and long term”. On this news, Outset shares fell another 33%, from a closing price of $20.41 per share on June 13, 2022at a closing price of $13.46 per share on June 14, 2022.
The case is Plymouth County Retirement Association v Outset Medical, Inc., 22-cv-04016.
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