SAN FRANCISCO, December 8, 2020 / PRNewswire / – Hagens Berman urges Penumbra, Inc. (NYSE: PEN) investors to file their losses now. The company is investigating potential securities fraud and is encouraging loss-making investors and anyone who may be able to assist the investigation to contact the company now.
Investigation by Penumbra, Inc. (PEN):
The investigation focuses on whether penumbra and executives may have misled investors about what the company said about its flagship ischemic stroke treatment products, among other things.
Recently on December 8, 2020Quintessential Capital Management released a scathing report accusing Penumbra of running a multi-year program of fraudulently creating a significant portion of the scientific literature using a fake character to aid product marketing for health care providers in the area The United States and elsewhere. According to the Quintessential Report “[t]Its deceptive nature appears to have been invented by management in a ruthless attempt to hide its involvement in critical research conducted with significant unknown conflicts of interest. “
This news caused the price of Penumbra shares to plummet.
“We are focusing on, among other things, investor losses and whether Penumbra has actually misled investors by using a fictional writer to support its business,” he said Reed Kathrein, the Hagens Berman partner who led the investigation.
If you are a penumbra investor or have information that may aid our investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Individuals with nonpublic information about penumbra should review their options to help with the investigation or use the SEC whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Call for more information Reed Kathrein at 844-916-0895 or by email [email protected].
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SOURCE Hagens Berman Sobol Shapiro LLP