U.S. Markets open in 7 hrs 38 mins

OWLT ALERT - Nationally Ranked Shareholder Rights Firm Labaton Sucharow is Investigating Owlet, Inc. (NYSE:OWLT) for Potential Securities Violations and Breach of Fiduciary Duty

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • OWLT

NEW YORK, NY / ACCESSWIRE / October 20, 2021 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, is investigating potential securities violations and breach of fiduciary duty claims against Owlet, Inc. (NYSE:OWLT).

On the morning of October 4, 2021, Owlet, Inc. stock fell more than 30% after notifying investors that it received an FDA warning letter on improper marketing of its flagship product called the Smart Sock. The warning letter asserts that the Company's marketing of its Owlet Smart Sock in the U.S. renders the Smart Sock a medical device requiring premarket clearance or approval from the FDA and that the Company has not obtained such clearance or approval. Additionally, the Letter "requests the Company cease commercial distribution of the Smart Sock for uses in measuring blood oxygen saturation and pulse rate where such metrics are intended to identify or diagnose desaturation and bradycardia using an alarm functionality to notify users that measurements are outside of preset values," the Company says.

If you currently own stock or options in Owlet, Inc. and suffered a loss, click here to participate.

If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at david@labaton.com.

About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at Labaton.com.

David J. Schwartz
(800) 321-0476

SOURCE: Labaton Sucharow LLP

View source version on accesswire.com: