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Press release content from Business Wire. The AP news staff was not involved in its creation.
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Press release content from Business Wire. The AP news staff was not involved in its creation.

EQUITY ALERT: ROSEN, A TOP RANKED LAW FIRM, Encourages Penumbra, Inc. Investors With Losses to Inquire About Class Action Investigation – PEN

August 27, 2021 GMT

NEW YORK--(BUSINESS WIRE)--Aug 27, 2021--

WHY: Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Penumbra, Inc. (NYSE:PEN) resulting from allegations that Penumbra may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Penumbra securities including options, between July 22, 2019 and December 15, 2020, and sold those securities for a loss you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2003.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

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WHAT IS THIS ABOUT: On November 10, 2020, market analyst Quintessential Capital Management released research report on the Company entitled “Penumbra and its ‘Killer Catheter’: A tale of corporate greed and seemingly blatant disregard for patients’ lives[.]”

Then on December 8, 2020, Quintessential Capital Management released a follow-up research report entitled “Is Penumbra’s core scientific research authored by a fake person?: The incredible story of Penumbra’s Dr. Antik Bose[.]” The follow-up report alleged that some of the Company’s scientific research pieces appear to have been incorrectly attributed or even authored by a fake individual. On this news, Penumbra’s share price fell $19.95 per share, or almost 9%, to close at $204.07 per share on December 8, 2020.

Finally, on December 15, 2020, after the markets closed, Penumbra announced that it was “voluntarily recalling all configurations” of its JET 7 Xtra Flex Reperfusion Catheter “because the catheter may become susceptible to distal tip damage during use. Distal tip damage in conjunction with pressurization or contrast injection may result in potential vessel damage, and subsequent patient injury or death.”

On this news, Penumbra’s shares fell $13.84 per share, or 7%, to close at $174.98 on December 16, 2020.

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WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210827005378/en/

CONTACT: Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, P.A.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

lrosen@rosenlegal.com

pkim@rosenlegal.com

cases@rosenlegal.com

www.rosenlegal.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: The Rosen Law Firm, P.A.

Copyright Business Wire 2021.

PUB: 08/27/2021 01:51 PM/DISC: 08/27/2021 01:52 PM

http://www.businesswire.com/news/home/20210827005378/en