The Law Offices of Frank R. Cruz Announces Investigation of Penumbra, Inc. (PEN) on Behalf of Investors
The Law Offices of Frank R. Cruz Announces Investigation of Penumbra, Inc. (PEN) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Penumbra, Inc. (“Penumbra” or the “Company”) (NYSE: PEN) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On November 10, 2020, Quintessential Capital Management issued a research report on the Company entitled “Penumbra and its ‘Killer Catheter’: A tale of corporate greed and seemingly blatant disregard for patients’ lives[.]”
On December 8, 2020, Quintessential Capital Management released a follow-up research report entitled “Is Penumbra’s core scientific research authored by a fake person?: The incredible story of Penumbra’s Dr. Antik Bose[.]” The follow-up report alleged that some of the Company’s scientific research appear to have been incorrectly credited or even authored by a fake individual.
On this news, Penumbra’s share price fell $19.95 per share, or almost 9%, to close at $204.07 per share on December 8, 2020, thereby injuring investors.
On December 15, 2020, after the market closed, Penumbra announced that it was voluntarily “recalling its JET 7 Xtra Flex because the catheter may become susceptible to distal tip damage during use[, which] may result in potential vessel damage, and subsequent patient injury or death.”
On this news, the Company’s stock price fell sharply during afterhours trading on December 15, 2020.
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If you purchased Penumbra 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
