SAN FRANCISCO, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Establishment Labs Holdings Inc. (NASDAQ: ESTA) investors who suffered significant losses to submit your losses now. The firm is investigating possible securities law violations.
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Establishment Labs Holdings Inc. (NASDAQ: ESTA) Investigation:
The investigation focuses on Establishment Labs’ repeated claims that its breast implants are safer than those of its competitors due to “rigorous science” and “clinical data.”
On Oct. 19, 2022 Establishment Labs’ claims came into question, when analyst Hindenburg Research published a scathing report entitled “Establishment Labs: A Financially Stretched Silicon Safety Charade.” Hindenburg accuses the company about misleading investors about safety claims, concluding in part: (1) “almost all key safety studies touted by the company have undisclosed or under-disclosed conflicts of interest;” (2) “Australian and French authorities expressed concerns with the company’s data with Australian regulators calling the company’s main safety data ‘observational uncontrolled studies;’” (3) “[t]he advisor Establishment just hired to support its U.S. launch was sued by the SEC in 2018 for fraudulently lying then destroying records that concealed regulatory and safety issues with breast implants;” and (4) “records show Establishment ships products to entities formerly owned by the CEO and his family, raising questions of conflicts of interest.”
In response, the price of Establishment Labs shares closed sharply lower on Oct. 19, wiping out more than $100 million of shareholder value.
“We’re focused on investors’ losses and whether the company misled investors about research purportedly supporting its product safety claims and financial risks,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Establishment Labs and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Establishment Labs should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ESTA@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
