Have you lost money investing in Outset Medical? If yes, please visit us Class action lawsuit brought by shareholders of Outline Medical, Inc or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com to discuss your rights.
NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, is reminding investors of the deadline for filing a motion by lead plaintiff in a securities class action lawsuit filed on behalf of investors who have purchased or acquired the common stock of Outset Medical, Inc. (“Outset Medical” or the “Company”) Om in between September 15, 2020 and June 13, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Northern District of California alleging violations of the Securities Exchange Act of 1934.
Outset Medical is a medical technology company focused on renal dialysis, the primary treatment for acute and chronic kidney failure. The Company’s flagship product is the Tablo hemodialysis system (“Tablo”). Tablo is a dialysis machine that purifies and then artificially purifies tap water and removes toxins from the blood of patients with kidney failure.
Throughout the class, Outset Medical announced that Tablo “can serve as a dialysis clinic on wheels” and “has been approved by the [U.S.] Food and Drug Administration [(the “FDA”)] for hospital, clinic or home use.” Outset Medical claimed it was “well positioned” to “help accelerate development[e] Transition to home hemodialysis therapy” triggered by the COVID-19 pandemic, patient preferences, government initiatives and reimbursement changes.
However, devices like Tablo, which are used by non-professionals outside of a clinical setting and can have serious health consequences, are subject to increased FDA scrutiny, including post-market surveillance studies. Therefore, although Tablo has been cleared for sale by the FDA, it has undergone additional studies for household use…
