NEW YORK, Oct. 22, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Establishment Labs Holdings Inc. (“Establishment Labs” or the “Company”) ESTA. Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Establishment Labs and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 19, 2022, Hindenburg Research (“Hindenburg”) published a report entitled “Establishment Labs: A Financially Stretched Silicone Safety Charade”. The Hindenburg report asserted, among other allegations, that: “[t]he advisor Establishment just hired to support its U.S. launch was sued by the SEC in 2018 for fraudulently lying and then destroying records that concealed regulatory and safety issues with breast implants:; “[d]espite claims of superior safety, we found that almost all key safety studies touted by the company have conflicts of interest, with many undisclosed or under-disclosed”; and “Australian and French authorities expressed concerns with the company’s data, with Australian regulators calling the company’s main safety data ‘observational uncontrolled studies'”.
On this news, Establishment Labs’ stock price fell $5.22 per share, or 9.26%, to close at $51.13 per share on October 19, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
originally published at Finance - RSV News