NEW YORK, March 02, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Invuity, Inc. (“Invuity”) (NASDAQ:IVTY) securities between July 19, 2016 and November 3, 2016, inclusive (the “Class Period”).
Investors who have incurred losses in shares of Invuity, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have purchased Invuity, Inc. shares within the class period and would like to assist with the litigation process, you may, no later than April 28, 2017, request that the Court appoint you lead plaintiff of the proposed class.
The filed Complaint alleges that throughout the Class Period, Invuity misrepresented its ability to sustain its average revenue per account, which serves as a critical metric for the Company’s growth. As a result, Defendants’ statements about Invuity’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis throughout the Class Period.
On November 3, 2016, after the close of daily trading, Invuity announced its third-quarter 2016 financial results and a lowered guidance due in part to a decline in average revenue per account. Following this news, Invuity shares declined $4.15 per share, or over 44.8%, on November 4, 2016, to close at $5.10 per share on unusually high trading volume.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
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