Outset Medical, Inc.
Case Overview
33 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 10/28/2024 |
Status: | Status: Investigating |
Company Name: | Company Name: Outset Medical, Inc. |
Court: | Court: Northern District of California |
Case Number: | Case Number: 5:24cv06124 |
Class Period: | Class Period: 08/01/2022 - 08/07/2024 |
Ticker: | Ticker: OM |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired Outset Medical, Inc. (“Outset” or the “Company”) (NASDAQ: OM) securities during the period of August 22, 2022 through August 7, 2024 inclusive (“the Class Period”). Investors have until October 28, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that: (1) Outset's Tablo products were marketed for continuous renal replacement therapy, which is not one of the indications approved by the FDA; (2) that, as a result, Outset Medical was reasonably likely to submit an additional 510(k) application for the Tablo products; (3) that there was a substantial risk that the Company would cease sales of the Tablo products pending FDA approval of additional indications; (4) that Outset Medical lacked the sales team and process to execute on the ramp of Tablo sales; and (5) that, as a result of the foregoing, the Company's revenue growth would be adversely impacted.
The lawsuit alleges that: (1) Outset's Tablo products were marketed for continuous renal replacement therapy, which is not one of the indications approved by the FDA; (2) that, as a result, Outset Medical was reasonably likely to submit an additional 510(k) application for the Tablo products; (3) that there was a substantial risk that the Company would cease sales of the Tablo products pending FDA approval of additional indications; (4) that Outset Medical lacked the sales team and process to execute on the ramp of Tablo sales; and (5) that, as a result of the foregoing, the Company's revenue growth would be adversely impacted.