The Klein Law Firm in New York Announces a Lead Plaintiff Deadline in the Class Action Lawsuit Filed on Behalf of Shareholders of Outset Medical, Inc.
The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Outset Medical, Inc. (NASDAQ: OM) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of all persons or entities who purchased Outset Medical common stock between September 15, 2020, and June 13, 2022.
Lead Plaintiff Deadline: September 6, 2022
CLASS ACTION CASE DETAILS: The filed complaint alleges that Outset Medical, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s flagship product, Tablo Hemodialysis System (“Tablo”), would require an additional 510(k) application to be filed with The United States Food and Drug Administration (“FDA”), as defendants had “continuously made improvements and updates to Tablo over time since its original clearance”; (2) as a result, the Company could not conduct a human factors study on a cleared device in accordance with FDA protocols; (3) the Company’s inability to conduct the human factors study subjected the Company to the likelihood of the FDA imposing a “shipment hold” and marketing suspension, leaving the Company unable to sell Tablo for home use; and (4) as a result, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and /or lacked a reasonable basis at all relevant times.
