{"id":446494,"date":"2021-02-28T14:38:26","date_gmt":"2021-02-28T19:38:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=446494"},"modified":"2021-02-28T14:38:26","modified_gmt":"2021-02-28T19:38:26","slug":"deadline-alert-kessler-topaz-meltzer-check-llp-announces-deadline-in-penumbra-inc-securities-fraud-class-action-lawsuit","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-alert-kessler-topaz-meltzer-check-llp-announces-deadline-in-penumbra-inc-securities-fraud-class-action-lawsuit\/","title":{"rendered":"DEADLINE ALERT:  Kessler Topaz Meltzer &amp; Check, LLP Announces Deadline in Penumbra, Inc. Securities Fraud Class Action Lawsuit"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">RADNOR, Pa.<\/span>, <span class=\"xn-chron\">Feb. 28, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0The law firm of Kessler Topaz Meltzer &amp; Check, LLP announces that a securities fraud class action lawsuit has been filed against Penumbra, Inc. (NYSE: PEN) (&#8220;Penumbra&#8221;) on behalf of those who purchased or acquired Penumbra common stock <b><i>between <span class=\"xn-chron\">August 3, 2020<\/span> and <span class=\"xn-chron\">December 15, 2020<\/span><\/i><\/b>, inclusive (the &#8220;Class Period&#8221;).<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/277422\/ktmc_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/277422\/ktmc_Logo.jpg\" title=\"KTMC (PRNewsFoto\/Kessler Topaz Meltzer &amp; Check)\" alt=\"KTMC (PRNewsFoto\/Kessler Topaz Meltzer &amp; Check)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b><br \/>\n          <i>Deadline Reminder:\u00a0 Investors who purchased or acquired Penumbra common stock<\/i><br \/>\n        <\/b><br \/>\n        <b><br \/>\n          <i>during the Class Period may, <u>no later than <span class=\"xn-chron\">March 16, 2021<\/span><\/u>, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer &amp; Check, LLP: <span class=\"xn-person\">James Maro, Esq.<\/span> (484) 270-1453 or <span class=\"xn-person\">Adrienne Bell, Esq.<\/span> (484) 270-143); toll free at (844) 887-9500; via e-mail at<\/i><br \/>\n        <\/b><br \/>\n        <a target=\"_blank\" href=\"mailto:info@ktmc.com\" rel=\"nofollow noopener noreferrer\">info@ktmc.com<\/a>; <b>or<\/b><b><i>click <\/i><\/b><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3080486-1&amp;h=705464852&amp;u=https%3A%2F%2Fwww.ktmc.com%2Fpenumbra-inc-securities-class-action%3Futm_source%3DPR%26utm_medium%3Dlink%26utm_campaign%3Dpenumbra&amp;a=https%3A%2F%2Fwww.ktmc.com%2Fpenumbra-inc-securities-class-action%3Futm_source%3DPR%26utm_medium%3Dlink%26utm_campaign%3Dpenumbra\" rel=\"nofollow noopener noreferrer\">https:\/\/www.ktmc.com\/penumbra-inc-securities-class-action?utm_source=PR&amp;utm_medium=link&amp;utm_campaign=penumbra<\/a><\/p>\n<p>According to the complaint, Penumbra is a global healthcare company that develops, manufactures and sells innovative medical devices for patients suffering from stroke and other vascular and neurovascular diseases.\u00a0Until recently, one of Penumbra&#8217;s flagship products was the &#8220;Jet 7 Xtra Flex,&#8221; an aspiration catheter designed to be inserted into an affected artery, navigated to a blood clot, and used to suck the clot out of the patient&#8217;s body. The Jet 7 Xtra Flex was introduced to the U.S. market in <span class=\"xn-chron\">July 2019<\/span> and quickly became a &#8220;growth driver&#8221; for Penumbra, a key source of new revenues. <\/p>\n<p>The complaint alleges that in mid-2020, concerns about the Jet 7 Xtra Flex&#8217;s safety began to emerge. Despite the safety concerns, the defendants repeatedly assured investors during the Class Period that the Jet 7 Xtra Flex was &#8220;absolutely safe&#8221; and &#8220;not a product that has any possibility of needing to be recalled,&#8221; as Penumbra was taking all necessary steps to protect patients. <\/p>\n<p>The truth regarding Jet 7 Xtra Flex&#8217;s safety was revealed to the market through a series of disclosures beginning in September 2020.\u00a0Then, on <span class=\"xn-chron\">December 15, 2020<\/span>, after the market closed, Penumbra issued a press release announcing that it was issuing an &#8220;urgent&#8221; recall of the Jet 7 Xtra Flex because the catheter &#8220;may become susceptible to distal tip damage during use&#8221; which could lead to injury or death.\u00a0 Following this news, Penumbra&#8217;s stock price fell by 7%, from <span class=\"xn-money\">$188.82<\/span> per share on <span class=\"xn-chron\">December 15, 2020<\/span> to <span class=\"xn-money\">$174.98<\/span> per share on <span class=\"xn-chron\">December 16, 2020<\/span>, a decline of <span class=\"xn-money\">$13.84<\/span> per share. <\/p>\n<p>Penumbra<b>\u00a0<\/b>investors may, <b><i><u>no later than <span class=\"xn-chron\">March 16, 2021<\/span><\/u><\/i><\/b>, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer &amp; Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member&#8217;s claim is typical of the claims of other class members, and that the class member will adequately represent the class.\u00a0Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.<\/p>\n<p>Kessler Topaz Meltzer &amp; Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer &amp; Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from <span class=\"xn-location\">the United States<\/span> and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).\u00a0The complaint in this action was not filed by Kessler Topaz Meltzer &amp; Check, LLP. For more information about Kessler Topaz Meltzer &amp; Check, LLP please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3080486-1&amp;h=2831756942&amp;u=http%3A%2F%2Fwww.ktmc.com%2F&amp;a=www.ktmc.com\" rel=\"nofollow noopener noreferrer\">www.ktmc.com<\/a>.<\/p>\n<p>CONTACT:<br \/>Kessler Topaz Meltzer &amp; Check, LLP<br \/><span class=\"xn-person\">James Maro, Jr., Esq.<\/span><br \/><span class=\"xn-person\">Adrienne Bell, Esq.<\/span><br \/>280 King of Prussia Road<br \/><span class=\"xn-location\">Radnor, PA<\/span> 19087<br \/>(844) 887-9500 (toll free)<br \/>(610) 667-7706<br \/><a target=\"_blank\" href=\"mailto:info@ktmc.com\" rel=\"nofollow noopener noreferrer\">info@ktmc.com<\/a><\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC92754&amp;sd=2021-02-28\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/deadline-alert--kessler-topaz-meltzer--check-llp-announces-deadline-in-penumbra-inc-securities-fraud-class-action-lawsuit-301236894.html\">http:\/\/www.prnewswire.com\/news-releases\/deadline-alert&#8211;kessler-topaz-meltzer&#8211;check-llp-announces-deadline-in-penumbra-inc-securities-fraud-class-action-lawsuit-301236894.html<\/a><\/p>\n<p>SOURCE  Kessler Topaz Meltzer &amp; Check, LLP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DC92754&amp;Transmission_Id=202102281435PR_NEWS_USPR_____DC92754&amp;DateId=20210228\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire RADNOR, Pa., Feb. 28, 2021 \/PRNewswire\/ &#8212;\u00a0The law firm of Kessler Topaz Meltzer &amp; Check, LLP announces that a securities fraud class action lawsuit has been filed against Penumbra, Inc. (NYSE: PEN) (&#8220;Penumbra&#8221;) on behalf of those who purchased or acquired Penumbra common stock between August 3, 2020 and December 15, 2020, inclusive (the &#8220;Class Period&#8221;). Deadline Reminder:\u00a0 Investors who purchased or acquired Penumbra common stock during the Class Period may, no later than March 16, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer &amp; Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-alert-kessler-topaz-meltzer-check-llp-announces-deadline-in-penumbra-inc-securities-fraud-class-action-lawsuit\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;DEADLINE ALERT:  Kessler Topaz Meltzer &amp; Check, LLP Announces Deadline in Penumbra, Inc. Securities Fraud Class Action Lawsuit&#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-446494","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DEADLINE ALERT: Kessler Topaz Meltzer &amp; Check, LLP Announces Deadline in Penumbra, Inc. Securities Fraud Class Action Lawsuit - 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-alert-kessler-topaz-meltzer-check-llp-announces-deadline-in-penumbra-inc-securities-fraud-class-action-lawsuit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DEADLINE ALERT: Kessler Topaz Meltzer &amp; Check, LLP Announces Deadline in Penumbra, Inc. Securities Fraud Class Action Lawsuit - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire RADNOR, Pa., Feb. 28, 2021 \/PRNewswire\/ &#8212;\u00a0The law firm of Kessler Topaz Meltzer &amp; Check, LLP announces that a securities fraud class action lawsuit has been filed against Penumbra, Inc. (NYSE: PEN) (&#8220;Penumbra&#8221;) on behalf of those who purchased or acquired Penumbra common stock between August 3, 2020 and December 15, 2020, inclusive (the &#8220;Class Period&#8221;). Deadline Reminder:\u00a0 Investors who purchased or acquired Penumbra common stock during the Class Period may, no later than March 16, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer &amp; Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. &hellip; Continue reading &quot;DEADLINE ALERT: Kessler Topaz Meltzer &amp; Check, LLP Announces Deadline in Penumbra, Inc. 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(NYSE: PEN) (&#8220;Penumbra&#8221;) on behalf of those who purchased or acquired Penumbra common stock between August 3, 2020 and December 15, 2020, inclusive (the &#8220;Class Period&#8221;). Deadline Reminder:\u00a0 Investors who purchased or acquired Penumbra common stock during the Class Period may, no later than March 16, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer &amp; Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. &hellip; Continue reading \"DEADLINE ALERT: Kessler Topaz Meltzer &amp; Check, LLP Announces Deadline in Penumbra, Inc. 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