{"id":454359,"date":"2021-03-09T21:03:23","date_gmt":"2021-03-10T02:03:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=454359"},"modified":"2021-03-09T21:03:23","modified_gmt":"2021-03-10T02:03:23","slug":"deadline-alert-bragar-eagel-squire-p-c-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-penumbra-inc-and-encourages-investors-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-alert-bragar-eagel-squire-p-c-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-penumbra-inc-and-encourages-investors-to-contact-the-firm\/","title":{"rendered":"DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Penumbra, Inc. and Encourages Investors to Contact the Firm"},"content":{"rendered":"

<\/p>\n

DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Penumbra, Inc. and Encourages Investors to Contact the Firm<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nBragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of investors that purchased Penumbra, Inc. (NYSE: PEN) common stock between August 3, 2020 and December 15, 2020 (the \u201cClass Period\u201d). Investors have until March 16, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.\n<\/p>\n

\nClick here<\/a> to participate in the action.\n<\/p>\n

\nPenumbra is a global healthcare company that develops, manufactures and sells innovative medical devices for patients suffering from stroke and other vascular and neurovascular diseases.\n<\/p>\n

\nUntil recently, one of the Company\u2019s flagship products was the \u201cJet 7 Xtra Flex,\u201d 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\u2019s body. The Jet 7 Xtra Flex was introduced to the U.S. market in July 2019 and quickly became a \u201cgrowth driver\u201d for the Company, a key source of new revenues.\n<\/p>\n

\nThe truth emerged through a series of disclosures that caused Penumbra\u2019s stock price to fall and investors to suffer substantial losses.\n<\/p>\n

\nMost recently, on December 15, 2020, the Company issued a press release announcing that it was issuing an \u201curgent\u201d and \u201cvoluntary\u201d recall of the Jet 7 Xtra Flex because the catheter \u201cmay become susceptible to distal tip damage during use\u201d which could lead to injury or death.\n<\/p>\n

\nIn response, Penumbra\u2019s stock price fell 7%, from $188.82 per share on December 15, 2020 to $174.98 per share on December 16, 2020, a decline of $13.84 per share.\n<\/p>\n

\nThe complaint, filed on January 15, 2021, alleges that defendants made false and\/or misleading statements and\/or failed to disclose material adverse facts about the Jet 7 Xtra Flex\u2019s safety, as well as the Company\u2019s business, operations, and prospects. Among other things, 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 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, Penumbra\u2019s public statements as set forth above were materially false and misleading at all relevant times.\n<\/p>\n

\nIf you purchased Penumbra common stock during the Class Period and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com<\/a>, telephone at (212) 355-4648, or by filling out this contact form.<\/a> There is no cost or obligation to you.\n<\/p>\n

About Bragar Eagel & Squire, P.C.:<\/b><\/p>\n

\nBragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com<\/a>. Attorney advertising. Prior results do not guarantee similar outcomes.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210309005975\/en\/<\/a><\/span><\/p>\n

\nBragar Eagel & Squire, P.C.
\n
Brandon Walker, Esq.
\n
Melissa Fortunato, Esq.
\n
Marion Passmore, Esq.
\n
(212) 355-4648
\n
investigations@bespc.com
\n<\/a>
www.bespc.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\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Penumbra, Inc. and Encourages Investors to Contact the Firm NEW YORK–(BUSINESS WIRE)– Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of investors that purchased Penumbra, Inc. (NYSE: PEN) common stock between August 3, 2020 and December 15, 2020 (the \u201cClass Period\u201d). Investors have until March 16, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. Penumbra is a global healthcare company … <\/p>\n

Continue reading “DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Penumbra, Inc. and Encourages Investors to Contact the Firm”<\/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-454359","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nDEADLINE ALERT: Bragar Eagel & Squire, P.C. 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