BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith 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.
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.
If you purchased Obalon securities, have information, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.