Cases
Obalon Therapeutics, Inc. (OBLN)
Securities Class Action
Overview
Overview
- Date:
- 2/15/2018
- Company Name:
- Obalon Therapeutics, Inc.
- Stock Symbol:
- OBLN
- Class Period:
- FROM 10/2/2016 TO 1/23/2018
- Status:
- Closed/Complete
- Court:
- U.S. District Court: District of Southern California
NEW YORK, February 15, 2018 – Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of California on behalf of all persons or entities who purchased or otherwise acquired Obalon Therapeutics, Inc. (NASDAQ: OBLN) securities between October 2, 2016 and January 23, 2018 (the “Class Period”). Investors have until April 16, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On January 23, 2018, Obalon announced the termination of the underwriting agreement and cancellation of its previously announced public stock offering, after, according to the Company, a purported whistleblower contacted KPMG LLP, the Company’s independent auditor, to make certain allegations relating to improper revenue recognition during the Company’s fourth fiscal quarter of 2017.
Following this news, the stock price of Obalon fell $1.73 per share, or over 33%, to close at $3.46 per share on January 23, 2017.
If you purchased or otherwise acquired Obalon securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On January 23, 2018, Obalon announced the termination of the underwriting agreement and cancellation of its previously announced public stock offering, after, according to the Company, a purported whistleblower contacted KPMG LLP, the Company’s independent auditor, to make certain allegations relating to improper revenue recognition during the Company’s fourth fiscal quarter of 2017.
Following this news, the stock price of Obalon fell $1.73 per share, or over 33%, to close at $3.46 per share on January 23, 2017.
If you purchased or otherwise acquired Obalon securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.