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LOS ANGELES, CA / ACCESSWIRE / March 16, 2020 /The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Penumbra, Inc. ("Penumbra" or "the Company") (NYSE:PEN) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between August 3, 2020 and December 15, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before March 16, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Penumbra's Jet 7 Xtra Flex suffered from known design flaws that made the product unsafe. The Company did not properly address the risk of serious injury or death caused by the use of Jet 7 Xtra Flex despite such incidents having already occurred. Jet 7 Xtra Flex was likely to be recalled due to its safety issues. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Penumbra, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
SOURCE: The Schall Law Firm
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