NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Natus Medical Inc. (“Natus Medical” or the “Company”) (NASDAQ:BABY) concerning possible violations of federal securities laws.
The investigation concerns whether the Company adequately disclosed the risk that certain key government supply contracts would be cancelled and thereby cause a material decline in the Company’s revenues and profitability. In addition, Company insiders, including CEO Jim Hawkins, sold a significant amount of shares immediately prior to Company disclosures that certain revenue expectations would not be met.
On April 4, 2016, Natus announced lower-than-expected preliminary revenue for the quarter ended March 31, 2016. CEO Hawkins announced that “Pushouts of key orders in both our international and domestic markets led to weaker than expected revenue late in the first quarter.” On this news, shares of Natus fell from a close of $39.64 on April 1, 2016, to close at $31.84 per share the following business day. To obtain additional information about the investigation, go to:
or contact Eduard Korsinsky, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
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