LOS ANGELES, April 11, 2022 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to fcruz@frankcruzlaw.com.
Acutus Medical, Inc. (NASDAQ: AFIB)
Class Period: May 13, 2021 – November 11, 2021
Lead Plaintiff Deadline: April 18, 2022
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) a material percentage of the AcQMap systems under evaluation had been randomly installed at sites with little, if any, consideration given to whether the healthcare providers at the selected locations were likely to adopt, or desire, Acutus's products; (2) a material percentage of the AcQMap systems under evaluation had been installed in locations where Acutus did not possess the infrastructure necessary to appropriately educate, train, and support medical service providers on the system's operations; (3) as a result of the foregoing, Acutus was in the process of designing a strategic plan to terminate and relocate approximately 20% of then-existing AcQMap systems evaluation arrangements; (4) the termination and relocation of approximately 20% of existing AcQMap systems evaluation arrangements was reasonably likely to have a material adverse effect on Acutus Medical's 2021 financial results; and (5) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
SunPower Corporation (NASDAQ: SPWR)
Class Period: August 3, 2021 – January 20, 2022
Lead Plaintiff Deadline: April 18, 2022
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that certain connectors used by SunPower suffered from cracking issues; (2) that, as a result, the Company was reasonably likely to incur costs to remediate the faulty connectors; (3) that, as a result of the foregoing, SunPower’s financial results would be adversely impacted; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Pulse Biosciences, Inc. (NASDAQ: PLSE)
Class Period: January 12, 2021 – February 7, 2022
Lead Plaintiff Deadline: April 18, 2022
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the IDE study evaluating the use of the CellFX System to treat sebaceous hyperplasia lesions failed to meet its primary endpoints; (2) that, as a result, there was a substantial risk that the FDA would reject Pulse’s 510(k) submission seeking to expand the label for the CellFX System to treat sebaceous hyperplasia lesions; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Butterfly Network, Inc. f/k/a Longview Acquisition Corp. (NYSE: BFLY)
Class Period: February 16, 2021 – November 15, 2021
Lead Plaintiff Deadline: April 18, 2022
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Butterfly had overstated its post-Merger business and financial prospects; (2) notwithstanding the ongoing COVID-19 pandemic, Butterfly’s financial projections failed to take into account the pandemic’s broad consequences, which included healthcare logistical challenges, and medical personnel fatigue; (3) accordingly, Butterfly’s gross margin levels and revenue projections were less sustainable than the Company had represented; (4) all the foregoing was reasonably likely to have a material negative impact on Butterfly’s business and financial condition; and (5) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
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To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you 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.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
