This lawsuit is for anyone who acquired securities in Outset Medical, Inc. (NASDAQ: OM) from September 15, 2020 through June 13, 2022.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by leading investors to believe that it was conducting proper tests to determine that its dialysis product, Tablo, was safe and effective when compared to devices already on the market, when the Company was not conducting the proper tests.
On June 13, 2022, after the market closed, Outset announced that it had implemented “a shipment hold on the distribution of its Tablo Hemodialysis System for home use pending” a review and clearance of a 510(k) application by the FDA. The Company withdrew its prior guidance and expected second quarter 2022 revenue of at least $25 million due to the shipment hold. On this news, the price of the Company's stock again dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Outset Medical, Inc. (NASDAQ: OM) from September 15, 2020 through June 13, 2022 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Case Summary
Join the Class Action
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
Terms:
correct statements.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.
