NEW YORK, — Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Obalon Therapeutics, Inc. (NASDAQ:OBLN) from October 5, 2016 through January 23, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Obalon investors under the federal securities laws.
To join the Obalon class action, go to http://rosenlegal.com/cases-1275.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, during the Class Period defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Obalon recognized revenue in violation of Generally Accepted Accounting Principles; (2) Obalon lacked adequate internal controls over accounting and financial reporting; and (3) as a result, defendants’ statements about Obalon’s business, operations, and prospects were materially false and misleading at all relevant times.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 16, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1275.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.