STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Natus Medical Incorporated (Nasdaq: BABY) (“Natus” or the “Company”) common stock during the period between October 16, 2015 and April 3, 2016, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until March 31, 2017 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Natus common stock during the Class Period. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that: the government of Venezuela failed to make tens of millions of dollars in prepayments to Natus, which were required to be paid in October 2015; Natus could not effectively enforce its rights under its supply contract and its revenues related to the supply contract were dependent on the outcome of Venezuelan elections; and, Natus could not effectively achieve its guidance.
According to the complaint, following a January 11, 2016 announcement that Venezuela had not made expected payments due to a delay, a January 27, 2016 announcement reaffirming a revenue shortfall due to the delay, a February 29, 2016 filing disclosing that the prepayments were due in October 2015, and an April 4, 2016 announcement that the Company still had not received the prepayments and the Company missed its guidance, the value of Natus shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Natus common stock purchased on or after October 16, 2015 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.