This lawsuit is for anyone who acquired securities in Cutera, Inc. (NASDAQ: CUTR) from February 17, 2021 through May 9, 2023.
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 telling investors the Company had controls in place to assure proper accounting but actually had ineffective information technology general controls and ineffective inventory count controls.
On February 28, 2023, after the market closed, Cutera announced that it was unable to timely file its 2022 Annual Report. The Company also disclosed that it had identified “material weaknesses in its internal control over financial reporting related to ineffective information technology general controls and ineffective inventory count controls.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on March 16, 2023, Cutera disclosed that it had identified additional material weaknesses related to stock-based compensation. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. Then, on April 12, 2023, Cutera revealed that it terminated the Company’s Executive Chairman and Chairman of the Board, as well as the Company’s Chief Executive Officer. In connection with this announcement, Cutera also withdrew its full-year 2023 financial guidance. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. Finally, on May 9, 2023, Cutera reported disappointing financial results for the first quarter 2023, stating that it was “below expectations due to execution challenges in the business.” Furthermore, the Company announced that its Chief Financial Officer had resigned. 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 Cutera, Inc. (NASDAQ: CUTR) from February 17, 2021 through May 9, 2023 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.
3070 Bristol Pike, Suite 112, Bensalem, PA 19020 
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hsmith@howardsmithlaw.com