Digging into the Allegations
A class action lawsuit against Outset Medical, Inc. (“Outset” or “the Company”) trading as OM on the NASDAQ exchange, has attracted the attention of investors. The lawsuit alleges violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 by the U.S. Securities and Exchange Commission.
The Call to Action for Investors
Investors who bought securities of Outset between August 1, 2022, and August 7, 2024, are urged to reach out to the law firm before October 28, 2024.
For shareholders who sustained losses during this period, active participation is encouraged to seek possible recovery.
The Alleged Misrepresentations
The lawsuit claims that Outset marketed its Tablo products for continuous renal replacement therapy without FDA approval, intending to submit a 510(k) application to the FDA. It further stated that the Company planned to halt sales until FDA approval, citing a lack of sales force to drive Tablo product sales. Subsequently, investors purportedly faced losses once the truth about Outset surfaced.
Legal Representations and Rightful Recovery
The Schall Law Firm, representing stakeholders across the globe, specializes in securities class action lawsuits and shareholder rights litigation, extending a helping hand to investors who may have faced losses due to the alleged misrepresentations by Outset.
Investors are encouraged to partake in the ongoing legal proceedings to potentially recover damages incurred during the specified period.
It’s worth noting that the class certification is pending, and until then, individuals are advised about their status as class members and the available options should they choose to remain uninvolved.
Final Note
Amidst the legal complexities, investors can seek recourse and have their voices heard through the ongoing legal proceedings.
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SOURCE The Schall Law Firm