ROSEN, GLOBAL INVESTOR COUNSEL, Continues to Investigate Securities Claims Against Penumbra, Inc. - PEN

Rhea-AI Summary

Rosen Law Firm is investigating potential securities claims for Penumbra shareholders due to allegations of misleading business information. This follows a series of negative reports, including a significant drop in share price by nearly 9% on December 8, 2020, after claims of falsified research. Additionally, a voluntary recall of the JET 7 Xtra Flex catheter led to a 7.3% decline in the stock's price the next day. The firm aims to prepare a securities lawsuit to protect investor interests.

Positive

• None.

Negative

• Share price fell nearly 9% on December 8, 2020, following allegations of falsified research.
• Subsequent voluntary recall of JET 7 Xtra Flex catheter resulted in a 7.3% drop in stock price.

NEW YORK, Jan. 13, 2021 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Penumbra, Inc. (NYSE: PEN) resulting from allegations that Penumbra may have issued materially misleading business information to the investing public.

On November 10, 2020, Quintessential Capital Management released 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 pieces appear to have been incorrectly attributed 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.

On December 15, 2020, after the markets closed, Penumbra announced that it was "voluntarily recalling all configurations" of its JET 7 Xtra Flex Reperfusion Catheter "because the catheter may become susceptible to distal tip damage during use."

Following the recall, Penumbra's shares fell $13.84 per share, or 7.3%, to close at $174.98 on December 16, 2020.

Rosen Law Firm is preparing a securities lawsuit on behalf of Penumbra shareholders. If you purchased securities of Penumbra please visit the firm's website at http://www.rosenlegal.com/cases-register-2003.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40^th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      lrosen@rosenlegal.com
      pkim@rosenlegal.com
      cases@rosenlegal.com
      www.rosenlegal.com

 

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SOURCE Rosen Law Firm, P.A.

FAQ

What allegations are being investigated against Penumbra (PEN)?

Rosen Law Firm is investigating claims that Penumbra issued materially misleading business information.

What caused the drop in Penumbra's share price on December 8, 2020?

The share price fell nearly 9% due to allegations related to falsified scientific research.

What impact did the catheter recall have on Penumbra's stock price?

The recall of the JET 7 Xtra Flex catheter led to a 7.3% decrease in Penumbra's share price.

What steps is Rosen Law Firm taking regarding Penumbra shareholders?

Rosen Law Firm is preparing a securities lawsuit on behalf of Penumbra shareholders.