{"id":429362,"date":"2021-02-04T16:03:08","date_gmt":"2021-02-04T21:03:08","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=429362"},"modified":"2021-02-04T16:03:08","modified_gmt":"2021-02-04T21:03:08","slug":"lawsuit-filed-penumbra-inc-sued-for-violations-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuit-filed-penumbra-inc-sued-for-violations-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp-2\/","title":{"rendered":"LAWSUIT FILED: Penumbra, Inc. Sued for Violations of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">BOSTON, Feb.  04, 2021  (GLOBE NEWSWIRE) &#8212; Nationally-recognized securities law firm Block &amp; Leviton LLP (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=8F5woF8xX6kARIoqUSSJfBlpd-sOJYcL11a8xDwfvhPnk-cU1uDoX_vdLuHYZe0fcS1feIrzFy1gVnxT8QP3baFf6k70ezpdPTfVM_Bwkq4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.blockleviton.com<\/a>) announces that a lawsuit for violation of the federal securities laws has been filed against Penumbra, Inc. (NYSE: PEN) and certain of its executives.<\/p>\n<p align=\"justify\">After the markets closed on December 15, 2020, Penumbra stunned the market when it announced that it was voluntarily recalling all configurations of its Jet\u00ae 7 Reperfusion Catheter with Xtra Flex technology. The Company stated that the catheter \u201cmay become susceptible to distal tip damage during use,\u201d which could lead to \u201cpatient injury or death.\u201d On this news, shares fell significantly in aftermarket trading.<\/p>\n<p align=\"justify\">This recall came 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<\/p>\n<p align=\"justify\">Then on December 8, 2020, QCM released another research report entitled \u201cIs Penumbra\u2019s core scientific research authored by a fake person?: The incredible story of Penumbra\u2019s Dr. Antik Bose[.]\u201d In this second report, QCM alleged that some of the Company\u2019s research papers appeared to have been incorrectly attributed to, or perhaps even authored by, a fake individual.<\/p>\n<p align=\"justify\">By the end of 2020, Penumbra shares were trading at approximately $175.00 each, down from the November 10, 2020 closing price of over $261.00 per share. This represents billions of dollars in lost market capitalization.<\/p>\n<p align=\"justify\">A lawsuit has been filed against Penumbra and certain of its executives in the U.S. District Court for the Northern District of California. The lawsuit is captioned <em>Williams v. Penumbra, Inc., et al.<\/em>, No. 3:21-cv-00420 (N.D. Cal.). The suit alleges that Penumbra misled investors as to design defects and risks associated with the Jet 7 Xtra Flex catheter and the likelihood of its recall.<\/p>\n<p align=\"justify\">If you purchased or acquired shares of Penumbra between August 3, 2020 and December 15, 2020, you are strongly encouraged to contact the nationally-recognized securities law firm Block &amp; Leviton LLP (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=8F5woF8xX6kARIoqUSSJfOlljfO0ICB4NjaloOvAptU8D9fkdbq4vXkrBPxqMBhKx2iEaifvuHZrhQS4CDa7SBDxTZQRbaFwbLPWTCLB55g=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.blockleviton.com<\/a>), at (617) 398-5600, via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=wi24Ile52QRd_Pnj9CymKV79GgORQbzCONEUJW8ZeaOn7QJgJ9E0rjKs71ISC4ANlCoPGbQPEhp1sel5x8M9UMcjPldSgGHnjiaEWbZhBVU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">cases@blockleviton.com<\/a>, or at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Jpn-Psp5_E3T9T3Jd6ePODQjHIGpJUqPjrHiU5SyMPUxxgQi7UCU2RBofsY1Le-3JdM7WiU6ORK7CpqFeNaXOLXDMdehYFlp9aRTfwlw-p-lpvp7orkrgsoQgoVqbY0xsrjuchGXxA5Ma7WbMoxj8A==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.blockleviton.com\/cases\/pen<\/a>. The deadline to move the Court to be appointed lead plaintiff is March 16, 2021.<\/p>\n<p align=\"justify\">Block &amp; Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country\u2019s financial markets. The firm represents many of the nation\u2019s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm\u2019s lawyers have recovered billions of dollars for its clients.<\/p>\n<p>This notice may constitute attorney advertising.<\/p>\n<p>CONTACT:<br \/>BLOCK &amp; LEVITON LLP<br \/>260 Franklin St., Suite 1860<br \/>Boston, MA 02110<br \/>Phone: (617) 398-5600<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=wi24Ile52QRd_Pnj9CymKV79GgORQbzCONEUJW8ZeaMFLhEwSkRIihONqSQMX187CZrysQ01rKLG9IxLiOGRI0vuzc0uAGDIRCX7svIYzRw=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">cases@blockleviton.com<\/a>\u00a0<br \/>SOURCE: Block &amp; Leviton LLP<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=8F5woF8xX6kARIoqUSSJfNYpU1s5yP-e8nsNwJDw0fAcHEICk1PfiMiFj8ouP_NMZ77WACZPAWrErDam-wgzhE2TL-KpW9B0OGetGWHrDcA=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.blockleviton.com<\/a>\u00a0<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE0MDIwOSMzOTQxMDIyIzIwMTgxMTk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/404e4475-e237-4ed4-bd32-23f497df4bdf\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BOSTON, Feb. 04, 2021 (GLOBE NEWSWIRE) &#8212; Nationally-recognized securities law firm Block &amp; Leviton LLP (www.blockleviton.com) announces that a lawsuit for violation of the federal securities laws has been filed against Penumbra, Inc. (NYSE: PEN) and certain of its executives. After the markets closed on December 15, 2020, Penumbra stunned the market when it announced that it was voluntarily recalling all configurations of its Jet\u00ae 7 Reperfusion Catheter with Xtra Flex technology. The Company stated that the catheter \u201cmay become susceptible to distal tip damage during use,\u201d which could lead to \u201cpatient injury or death.\u201d On this news, shares fell significantly in aftermarket trading. This recall came on the heels of a November 10, 2020 research report released by Quintessential &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lawsuit-filed-penumbra-inc-sued-for-violations-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;LAWSUIT FILED: Penumbra, Inc. Sued for Violations of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP&#8221;<\/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-429362","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LAWSUIT FILED: Penumbra, Inc. 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This recall came on the heels of a November 10, 2020 research report released by Quintessential &hellip; Continue reading &quot;LAWSUIT FILED: Penumbra, Inc. 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