OM Class Action Complaint File
SAN DIEGO, 09 July Nov. 2022 (GLOBE NEWSWIRE) — Law firm specializing in shareholder rights Johnson Fistel, LLP announces that a class action lawsuit has been filed on behalf of the investors of Outset Medical, Inc. (“Outset Medical” or the “Company”) ( OM). The class action is on behalf of shareholders who purchased Outset Medical securities between September 15, 2020 and June 13, 2022, both dates inclusive (the “Class Period”). Investors are hereby notified that they have until September 6, 2022 to apply to the court to serve as lead plaintiff in this action.
What actions can I take at this time? If you have suffered a loss and would like to know more about the role of lead plaintiff, please contact Jim Baker ([email protected]) by email or by phone at 619-814-4471. If emailing, please include a phone number.
To join this action, you can click or copy and paste the link below into a browser:
There is no cost or obligation for you.
The class action alleges that, during the Class Period, the defendants misled investors and/or failed to disclose that (1) the defendants had “continually made improvements and updates to Tablo over the time since initial authorization” which required an additional 510(k) application; (2) as a result, the Company was unable to conduct a human factors study on a device cleared under FDA protocols; (3) the company’s failure to complete the human factors study exposed the company to the likelihood that the FDA would impose a “suspension of shipment” and marketing suspension, leaving the company unable to sell Tablo for home use; and (4) therefore, defendants’ positive statements about the company’s business, operations and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
A lead plaintiff will act on behalf of all other class members to lead Outset Medical’s class action. The lead plaintiff may select a law firm of their choice to litigate the class action. An investor’s ability to share in any potential future recovery from the Outset Medical class action does not depend on its status as lead plaintiff. For more information on the lead applicant process, please see https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivatives and securities class actions. Johnson Fistel is seeking to recover losses incurred due to violations of federal securities laws. For more information about the firm and its lawyers, visit http://www.johnsonfistel.com. Lawyer advertisement. Past results do not guarantee future results.
Johnson Fistel, LLP
Jim Baker, 619-814-4471