NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Invuity, Inc. (NASDAQ:IVTY) securities between July 19, 2016 and November 3, 2016 (the “Class Period”). Investors have until April 28, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that throughout 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. As a result, Defendants’ statements about Invuity’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis throughout the Class Period.
On November 3, 2016, post-market, Invuity announced its third-quarter 2016 financial results and a lowered guidance due in part to a decline in average revenue per account. Following this news, Invuity shares declined $4.15 per share, or over 44.8%, on November 3, 2016 to close at $4.48.
If you purchased or otherwise acquired Invuity securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Invuity lawsuit, please go to www.bespc.com/invuity. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.