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Investor Alert: Kaplan Fox Investigates Potential Securities Fraud Penumbra, Inc.

·2 min read

NEW YORK, Dec. 17, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Penumbra, Inc ("Penumbra" or the "Company") (NYSE: PEN).

On Nov. 9, 2020, Quintessential Capital Management ("QCM") published a report entitled "Penumbra and its 'Killer Catheter.'" QCM stated, among other things that "Penumbra's flagship 'Jet 7' device is linked to 18 recorded deaths, 39 injuries" and that "this might be only the 'tip of the iceberg. . . .'"

On November 9, 2020, Penumbra's shares fell $8.76 per share, about 3.5%, to close at $242.46 per share.

On December 8, 2020, QCM published another report accusing Penumbra of having engaged in a multi-year scheme to fraudulently produce a substantial portion of scientific literature using a fake character to support its product marketing to healthcare providers.

On December 8, 2020, Penumbra's shares fell $19.95 per share, about 8.9%, to close at $204.07 per share.

Then, on December 15, 2020, after the market closed, Penumbra announced it is voluntarily recalling all configurations of its JET 7 Xtra Flex device "because the catheter may become susceptible to distal tip damage during use" and "[d]istal tip damage in conjunction with pressurization or contrast injection may result in potential vessel damage, and subsequent patient injury or death."

Following this news, Penumbra's shares fell $13.84 per share, about 7.3%, to close at $174.98 per share on December 16, 2020.

If you purchased or otherwise acquired Penumbra securities and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:

Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 329-8571
E-mail: jcampisi@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com

Cision
Cision

View original content:http://www.prnewswire.com/news-releases/investor-alert-kaplan-fox-investigates-potential-securities-fraud-penumbra-inc-301195589.html

SOURCE Kaplan Fox & Kilsheimer LLP