{"id":420428,"date":"2021-01-25T11:03:14","date_gmt":"2021-01-25T16:03:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=420428"},"modified":"2021-01-25T11:03:14","modified_gmt":"2021-01-25T16:03:14","slug":"deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-penumbra-inc-pen","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-penumbra-inc-pen\/","title":{"rendered":"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Penumbra, Inc. (PEN)"},"content":{"rendered":"

<\/p>\n

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Penumbra, Inc. (PEN)<\/b><\/p>\n

BENSALEM, Pa.–(BUSINESS WIRE<\/a>)–
\nLaw Offices of Howard G. Smith reminds investors of the upcoming March 16, 2021 <\/b>deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Penumbra, Inc. (\u201cPenumbra\u201d or the \u201cCompany\u201d) (NYSE: PEN<\/a>) common stock between August 3, 2020 and December 15, 2020<\/b>,inclusive (the \u201cClass Period\u201d).\n<\/p>\n

\nInvestors suffering losses on their Penumbra investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com<\/a>.\n<\/p>\n

\nOne of the Company\u2019s flagship products is the Jet 7 Xtra Flex, an aspiration catheter to remove blood clots.\n<\/p>\n

\nOn September 14, 2020, the Foundation for Financial Journalism published an article raising concerns about the Jet 7 Xtra Flex\u2019s safety profile, including that there had been 12 reported deaths since the product was introduced in mid-2019.\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $5.77, or 3%, to close at $193.66 per share on September 14, 2020.\n<\/p>\n

\nOn November 9, 2020, Quintessential Capital Management issued a research report on the Company entitled \u201cPenumbra and its \u2018Killer Catheter\u2019: A tale of corporate greed and seemingly blatant disregard for patients\u2019 lives[.]\u201d The report accused Penumbra of a \u201cseemingly blatant disregard for patients\u2019 lives.\u201d The Company continued to insist that the Jet 7 Xtra Flex was \u201cabsolutely safe\u201d and refuted any claims to the contrary by stating they made \u201cno sense\u201d and there \u201cisn\u2019t an issue.\u201d\n<\/p>\n

\nOn November 23, 2020, the Journal of NeuroInventional Surgery published an article presenting three cases of patients who had suffered due to malfunctions with the Jet 7 Xtra Flex. The article was widely disseminated over the next two days.\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $30.59, or 12%, to close at $224.12 per share on November 25, 2020.\n<\/p>\n

\nOn December 8, 2020, Quintessential Capital Management released a follow-up research report entitled \u201cIs Penumbra\u2019s core scientific research authored by a fake person?: The incredible story of Penumbra\u2019s Dr. Antik Bose[.]\u201d The follow-up report alleged that some of Penumbra\u2019s scientific research pieces appear to have been incorrectly attributed or even authored by a fake individual.\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $19.95 per share, or almost 9%, to close at $204.07 per share on December 8, 2020, thereby injuring investors.\n<\/p>\n

\nOn December 15, 2020, after the market closed, Penumbra announced that it was voluntarily \u201crecalling its JET 7 Xtra Flex because the catheter may become susceptible to distal tip damage during use[, which] may result in potential vessel damage, and subsequent patient injury or death.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $13.84 per share, or almost 7%, to close at $174.98 per share on December 16, 2020, thereby injuring investors.\n<\/p>\n

\nThe complaint filed alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Jet 7 Xtra Flex had known design defects that made it unsafe for its normal use; (2) that Penumbra did not adequately address the risk of the Jet 7 Xtra Flex causing serious injury and deaths, which had in fact already occurred; (3) that the Jet 7 Xtra Flex was likely to be recalled due to its safety issues; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and\/or lacked a reasonable basis at all relevant times.\n<\/p>\n

\nIf you purchased or otherwise acquired Penumbra common stock during the Class Period, you may move the Court no later than March 16, 2021 <\/b>to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com<\/a>, or visit our website at www.howardsmithlaw.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\/20210125005075\/en\/<\/a><\/span><\/p>\n

\nLaw Offices of Howard G. Smith
\n
Howard G. Smith, Esquire
\n
215-638-4847
\n
888-638-4847
\n
howardsmith@howardsmithlaw.com
\n<\/a>
www.howardsmithlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> California Pennsylvania United States North America<\/p>\n

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

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

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Penumbra, Inc. (PEN) BENSALEM, Pa.–(BUSINESS WIRE)– Law Offices of Howard G. Smith reminds investors of the upcoming March 16, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Penumbra, Inc. (\u201cPenumbra\u201d or the \u201cCompany\u201d) (NYSE: PEN) common stock between August 3, 2020 and December 15, 2020,inclusive (the \u201cClass Period\u201d). Investors suffering losses on their Penumbra investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. One of the Company\u2019s flagship products is the Jet … <\/p>\n

Continue reading “Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Penumbra, Inc. (PEN)”<\/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-420428","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nDeadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Penumbra, Inc. (PEN) - 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\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-penumbra-inc-pen\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Penumbra, Inc. (PEN) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Penumbra, Inc. (PEN) BENSALEM, Pa.–(BUSINESS WIRE)– Law Offices of Howard G. Smith reminds investors of the upcoming March 16, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Penumbra, Inc. (\u201cPenumbra\u201d or the \u201cCompany\u201d) (NYSE: PEN) common stock between August 3, 2020 and December 15, 2020,inclusive (the \u201cClass Period\u201d). Investors suffering losses on their Penumbra investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. One of the Company\u2019s flagship products is the Jet … Continue reading "Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Penumbra, Inc. 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