LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Obalon Therapeutics, Inc. (“Obalon” or the “Company”) (NASDAQ: OBLN) investors concerning the Company and its officers’ possible violations of federal securities laws. To obtain information or aid in the investigation, please visit the Obalon investigation page on our website at www.glancylaw.com/case/obalon-therapeutics-inc.
On January 23, 2018, Obalon announced that it was canceling its previously announced public offering after its auditor, KPMG LLP, received a complaint from a “purported whistleblower” alleging “improper revenue recognition” during Q4 2017.
On this news, shares of Obalon fell $1.73 per share or more than 33%, to close at $3.46 per share on January 23, 2018, thereby injuring investors.
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If you purchased Obalon securities, 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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