NEW YORK — The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Invuity, Inc. (NASDAQ:IVTY) who purchased shares between July 19, 2016 and November 3, 2016. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, Defendants issued materially false and/or misleading statements about its operations and results and misrepresented its ability to sustain its average revenue per account, which serves as a critical metric for the Company’s growth.
After the markets closed on November 3, 2016, Invuity revealed its financial results for its third quarter of 2016, lowering its guidance and noting a drop in average revenue per account. Following this news, Invuity stock dropped, damaging investors.
Shareholders have until April 28, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sa/invuity-inc?wire=3.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Joseph Klein, Esq. Empire State Building 350 Fifth Avenue 59th floor New York, NY 10118 Telephone: (212) 616-4899 Fax: (347) 558-9665 www.kleinstocklaw.com