Berman Tabacco Announces Investigation of Outset Medical Inc. (OM) for Potential Securities Law Violations

Rhea-AI Summary

Berman Tabacco investigates potential securities law violations by Outset Medical Inc.

BOSTON--(BUSINESS WIRE)-- Berman Tabacco, a national law firm representing investors, is investigating potential securities law violations by Outset Medical Inc. ("Outset" or the "Company") (NASDAQ: OM), a medical technology company based in San Jose, California.

About the Investigation

On July 10, 2023, Bloomberg reported that Outset “shares decline[d] as much as 16% after receiving a warning letter from the US FDA raising two additional observations about its dialysis device, Tablo Hemodialysis System.”

On October 12, 2023, after the market close, Outset issued a press release announcing preliminary revenue for the third quarter ended Sept. 30, 2023, and updated guidance. The Company disclosed that "[g]rowth in the quarter was dampened by a larger-than-expected impact in the field from the recent FDA warning letter, and early signs of a more cautious outlook on capital spending that we see as a headwind continuing through the fourth quarter." On October 13, 2023, shares opened at $3.76 per share, down $3.01 (or 44%) from the October 12, 2023 closing price of $6.77.

Contact

If you have information concerning this investigation, please contact us here: Contact | Berman Tabacco.

About Berman Tabacco

Since 1982, our firm has prosecuted hundreds of securities and antitrust complex cases. The firm and its attorneys have been recognized for their work on behalf of plaintiffs, including by Chambers USA, Benchmark Litigation, which has ranked the firm as Highly Recommended and a Top Ten Plaintiffs, The Legal 500, U.S. News & World Report-Best Lawyers, The Daily Journal, Lawdragon, Who's Who Legal, and Super Lawyers.

The firm has offices in Boston, Massachusetts and San Francisco, California.

This notice may constitute attorney advertising.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231013829521/en/

Berman Tabacco

Jay Eng, Esq.

One Liberty Square

Boston, Massachusetts

Email: law@bermantabacco.com

Source: Berman Tabacco

FAQ

What is Berman Tabacco investigating?

Berman Tabacco is investigating potential securities law violations by Outset Medical Inc.

What is Outset Medical Inc.?

Outset Medical Inc. is a medical technology company based in San Jose, California.

Where is Berman Tabacco based?

Berman Tabacco is a national law firm based in Boston.

What is the stock symbol for Outset Medical Inc.?

The stock symbol for Outset Medical Inc. is OM and it is listed on NASDAQ.

What kind of violations are being investigated?

Berman Tabacco is investigating potential securities law violations.

What is the outcome of the investigation?

The outcome of the investigation is not mentioned in the PR.