ATLANTA--(BUSINESS WIRE)--Holzer & Holzer, LLC announces that it has filed a class action lawsuit on behalf of investors in Invuity, Inc. (“Invuity” or the “Company”) (NASDAQ: IVTY) who purchased Invuity shares between July 19, 2016 and November 3, 2016. The case is pending in the United States District Court for the Northern District of California and captioned Paciga v. Invuity, Inc., et al., Case No. 3:17-cv-1005.
The complaint alleges Invuity issued false and misleading statements about its operations and results. Specifically, the Complaint alleges that during the Class Period Invuity misrepresented its ability to sustain its average revenue per account, which serves as a critical metric for the Company’s growth. After the markets closed on November 3, 2016, Invuity announced its financial results for the third quarter of 2016 and, citing in part a decline in average revenue per account, the Company lowered its guidance. The price of Invuity stock fell significantly following the news.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss your legal rights, you are encouraged to contact Corey D. Holzer, Esq. at cholzer@holzerlaw.com or by toll-free telephone at (888) 508-6832. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Holzer & Holzer, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm.