{"id":457093,"date":"2021-03-12T21:03:11","date_gmt":"2021-03-13T02:03:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=457093"},"modified":"2021-03-12T21:03:11","modified_gmt":"2021-03-13T02:03:11","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-2","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-2\/","title":{"rendered":"DEADLINE ALERT: Bragar Eagel &amp; 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":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, March  12, 2021  (GLOBE NEWSWIRE) &#8212; Bragar Eagel &amp; 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\u00a0August 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.<\/p>\n<p align=\"justify\">Click <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0tKMw8RXt2uokuyNi_M_Yhmlx_1iUr8aWS2HvRL-v0Au4r4m1u9lgeRaT_H04xTPB2gznmBdQxwmuCACRlAJhg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">here<\/a> to participate in the action.<\/p>\n<p align=\"justify\">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.<\/p>\n<p align=\"justify\">Until 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.<\/p>\n<p align=\"justify\">The truth emerged through a series of disclosures that caused Penumbra\u2019s stock price to fall and investors to suffer substantial losses.<\/p>\n<p align=\"justify\">Most 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.<\/p>\n<p align=\"justify\">In 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.<\/p>\n<p align=\"justify\">The 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.<\/p>\n<p align=\"justify\">If 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 <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ugFHtZCn5AUPOFya0hP1PXjCLEDNHzCoswFIS4DLgLLrVzT3CH9VcIFKJBcokKSEphjTEuAN9VvIHesMJlL9eh9dkfG4k-R3r3IyNQuFpGM=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>investigations@bespc.com<\/u><\/a>, telephone at (212) 355-4648, or by <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HP0RqaWvS64rF7JJOddZlGRkkLoGikdHY7oDWLanSyCqHcbsKLVSxJ9xu5r2T_m8pFFIui0dTHM_tcPmMfWxy2Lr7rqEys1tbY-YkFWeQgM=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>filling out this contact form.<\/u><\/a> There is no cost or obligation to you.<\/p>\n<p>\n        <strong>About Bragar Eagel &amp; Squire, P.C.:<\/strong><br \/>\n        <br \/>Bragar Eagel &amp; 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 <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0z7TBgnV8qUKJfX_OZAz5me_HQqg-E0FNMSr6AKntinD_rnxjfo0nZMxUtDJT3i1WrXx7cIDb_TSPDrg1YKOLA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.bespc.com<\/a>. Attorney advertising. Prior results do not guarantee similar outcomes.<\/p>\n<p>\n        <strong>Contact Information:<\/strong><br \/>\n        <br \/>Bragar Eagel &amp; Squire, P.C.<br \/>Brandon Walker, Esq.<br \/>Melissa Fortunato, Esq.<br \/>Marion Passmore, Esq.<br \/>(212) 355-4648<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ugFHtZCn5AUPOFya0hP1PXjCLEDNHzCoswFIS4DLgLK3SX1BlWU_2xjy0NT4EQRFRcSZwfj_72whMMy2nyO_qkuAvetPxZrUBVsjW7lsm-U=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">investigations@bespc.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0z7TBgnV8qUKJfX_OZAz5owVS2p0TeUuwrp-YeqTVJdcxOgOOwfglqQbjFRzP5mgooyQwkwizzGfycyKcHK35g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.bespc.com<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4OTMwNCM0MDYxOTY2IzIxMDAzOTg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/106a6eec-b4df-49aa-a238-4dd8c39bd35f\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, March 12, 2021 (GLOBE NEWSWIRE) &#8212; Bragar Eagel &amp; 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\u00a0August 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 that develops, manufactures and sells innovative medical devices for patients suffering from stroke and other vascular and neurovascular diseases. Until recently, one of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"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-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;DEADLINE ALERT: Bragar Eagel &amp; Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Penumbra, Inc. and Encourages Investors to Contact the Firm&#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-457093","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: Bragar Eagel &amp; Squire, P.C. 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Until recently, one of &hellip; Continue reading &quot;DEADLINE ALERT: Bragar Eagel &amp; Squire, P.C. 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Until recently, one of &hellip; Continue reading \"DEADLINE ALERT: Bragar Eagel &amp; Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Penumbra, Inc. and Encourages Investors to Contact the Firm\"","og_url":"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-2\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-13T02:03:11+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4OTMwNCM0MDYxOTY2IzIxMDAzOTg=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"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-2\/#article","isPartOf":{"@id":"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-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"DEADLINE ALERT: Bragar Eagel &amp; Squire, P.C. 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