{"id":407038,"date":"2020-12-31T17:03:35","date_gmt":"2020-12-31T22:03:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=407038"},"modified":"2020-12-31T17:03:35","modified_gmt":"2020-12-31T22:03:35","slug":"investor-alert-kirby-mcinerney-llp-continues-investigation-of-shareholder-claims-against-penumbra-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-continues-investigation-of-shareholder-claims-against-penumbra-inc\/","title":{"rendered":"INVESTOR ALERT: Kirby McInerney LLP Continues Investigation of Shareholder Claims Against Penumbra, Inc."},"content":{"rendered":"

<\/p>\n

INVESTOR ALERT: Kirby McInerney LLP Continues Investigation of Shareholder Claims Against Penumbra, Inc.<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nThe law firm of Kirby McInerney LLP<\/a> is investigating potential claims against Penumbra, Inc. (\u201cPenumbra\u201d or the \u201cCompany\u201d) (NYSE: PEN<\/a>). The investigation focuses on whether Penumbra issued false and\/or misleading statements and\/or failed to disclose information pertinent to investors concerning the Company\u2019s scientific research.\n<\/p>\n

\nThis recall comes on the heels of a November 10, 2020 research report released by Quintessential Capital Management (\u201cQCM\u201d) entitled \u201cPenumbra and its \u2018Killer Catheter\u2019: A tale of corporate greed and seemingly blatant disregard for patients\u2019 lives[.]\u201d QCM stated that it received \u201cexpert opinions from multiple surgeons and former senior FDA personnel,\u201d leaving QCM \u201cconfident that Penumbra\u2019s flagship device may be on the verge of a class 1 recall by the FDA.\u201d\n<\/p>\n

\nThen, on December 8, 2020, QCMpublished another report accusing Penumbra of using a fake character to generate supporting scientific literature for its products. According to QCM,<\/i> \u201c[t]his fraudulent character appears to have been fabricated by management in a reckless attempt to hide its involvement with critical research produced with significant undisclosed conflicts of interest.\u201d Significantly, Penumbra later admitted its co-founder, Arani Bose, was the real authorof certain challenged literature.\n<\/p>\n

\nThen, on December 15, 2020, Penumbra announced it was voluntarily recalling all configurations of its JET 7 Xtra Flex device because it may be susceptible to damage during use and subsequent patient injury or death.\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $13.84 per share, or approximately 7.3%, to close at $174.98 per share on December 16, 2020.\n<\/p>\n

\nMost recently, on December 28, 2020, research firm Marcus Aurelius Value published a report concluding Penumbra\u2019s recall was not just a matter of \u201cbad luck\u201d but \u201cinstead symptomatic of more pervasive rot.\u201d The report accuses Penumbra of improperly using a small Tennessee entity as the \u201c\u2018independent\u2019 core lab used to adjudicate many of Penumbra\u2019s clinical studies since at least 2013 even though it is registered to the wife of a Penumbra scientific author and site investigator.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $11.46 per share, or approximately 6.11%, to close at $175.95 per share on December 28, 2020.\n<\/p>\n

\nIf you purchased or otherwise acquired Penumbra securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod<\/a> of Kirby McInerney LLP<\/a> at 212-371-6600, by email at investigations@kmllp.com<\/a>, or by filling out this contact form<\/a>, to discuss your rights or interests with respect to these matters without any cost to you.\n<\/p>\n

Kirby McInerney LLP<\/a> is a New York-based plaintiffs\u2019 law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm\u2019s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP\u2019s website: http:\/\/www.kmllp.com<\/a>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201231005235\/en\/<\/a><\/span><\/p>\n

\nKirby McInerney LLP
\n
Thomas W. Elrod, Esq.
\n
212-371-6600
\n
https:\/\/www.kmllp.com
\n<\/a>
investigations@kmllp.com<\/a><\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

INVESTOR ALERT: Kirby McInerney LLP Continues Investigation of Shareholder Claims Against Penumbra, Inc. NEW YORK–(BUSINESS WIRE)– The law firm of Kirby McInerney LLP is investigating potential claims against Penumbra, Inc. (\u201cPenumbra\u201d or the \u201cCompany\u201d) (NYSE: PEN). The investigation focuses on whether Penumbra issued false and\/or misleading statements and\/or failed to disclose information pertinent to investors concerning the Company\u2019s scientific research. This recall comes on the heels of a November 10, 2020 research report released by Quintessential Capital Management (\u201cQCM\u201d) entitled \u201cPenumbra and its \u2018Killer Catheter\u2019: A tale of corporate greed and seemingly blatant disregard for patients\u2019 lives[.]\u201d QCM stated that it received \u201cexpert opinions from multiple surgeons and former senior FDA personnel,\u201d leaving QCM \u201cconfident that Penumbra\u2019s flagship device may … <\/p>\n

Continue reading “INVESTOR ALERT: Kirby McInerney LLP Continues Investigation of Shareholder Claims Against Penumbra, Inc.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-407038","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nINVESTOR ALERT: Kirby McInerney LLP Continues Investigation of Shareholder Claims Against Penumbra, Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-continues-investigation-of-shareholder-claims-against-penumbra-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVESTOR ALERT: Kirby McInerney LLP Continues Investigation of Shareholder Claims Against Penumbra, Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"INVESTOR ALERT: Kirby McInerney LLP Continues Investigation of Shareholder Claims Against Penumbra, Inc. NEW YORK–(BUSINESS WIRE)– The law firm of Kirby McInerney LLP is investigating potential claims against Penumbra, Inc. (\u201cPenumbra\u201d or the \u201cCompany\u201d) (NYSE: PEN). The investigation focuses on whether Penumbra issued false and\/or misleading statements and\/or failed to disclose information pertinent to investors concerning the Company\u2019s scientific research. 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