Class Action Lawsuit Deadline: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Penumbra, Inc. | National News
RADNOR, Pa., March 10, 2021 / PRNewswire / – Kessler Topaz Meltzer & Check, LLP law firm announces that a class action lawsuit has been brought against Penumbra, Inc. (NYSE: PEN) (“Penumbra”) on behalf of those who have bought or acquired a securities fraud complaint Penumbra common stock between August 3, 2020 and December 15, 2020including (the “Class Period”).
The complaint alleges that, until recently, one of Penumbra’s main products was the “Jet 7 Xtra Flex,” an aspiration catheter that was inserted into an affected artery, navigated to a blood clot, and used to aspirate the clot from the patient’s body.
According to the complaint, concerns about the safety of the Jet 7 Xtra Flex emerged in mid-2020. However, Penumbra repeatedly reassured investors during the class period that the Jet 7 Xtra Flex was “completely safe” and “not a product that may have to be recalled” as Penumbra had taken all necessary measures to protect patients.
The truth about the safety of Jet 7 Xtra Flex was finally revealed to the market through a series of disclosures when the time came December 15, 2020After the market closed, Penumbra issued a press release announcing that the Jet 7 Xtra Flex is being “urgently” recalled as the catheter “can become vulnerable to distal tip damage while in use”, resulting in injury or can lead to death. As a result, the price of Penumbra’s common stock continued to decline, falling 7%, down from $ 13.84 per share.
Penumbra Investors can not later than March 16, 2021, attempt to be appointed as the class lead plaintiff by Kessler Topaz Meltzer & Check, LLP, or other attorney, or choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the dispute. To be named lead plaintiff, the court must determine that the class member’s claim is typical of those of other class members and that the class member is adequately representing the class. Your ability to get involved in a recovery will not be affected by whether or not you will be the lead plaintiff.
Kessler Topaz Meltzer & Check, LLP, pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of federal and state law. Kessler Topaz Meltzer & Check, LLP, is a driving force behind corporate governance reform and has collected billions of dollars on behalf of institutional and individual investors The United States and all over the world. The company represents investors, consumers and whistleblowers (individuals who report fraudulent practices against the government and are involved in recovering government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro Jr., Esq.
Adrienne Bell, Esq.
280 Street of the King of Prussia
Radnor, PA 19087
(844) 887-9500 (toll free)
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SOURCE Kessler Topaz Meltzer & Check, LLP