Hagens Berman urges Penumbra, Inc. investors to submit their losses now. The firm is investigating possible securities fraud and encourages investors with losses and persons who may be able to assist in the investigation to contact the firm now.
Contact An Attorney Now:
Penumbra, Inc. (PEN) Investigation:
The investigation centers on whether Penumbra and senior executives may have misled investors about, among other things, the company’s statements about its flagship products for treating ischemic stroke.
Recently, on Dec. 8, 2020, Quintessential Capital Management published a scathing report accusing Penumbra of having engaged in a multi-year scheme to fraudulently produce a substantial portion of scientific literature using a fake character to support its product marketing to healthcare providers around the United States and elsewhere. According to the Quintessential report, “[t]his fraudulent character appears to have been fabricated by management in a reckless attempt to hide its involvement with critical research produced with significant undisclosed conflicts of interest.”
This news drove the price of Penumbra shares sharply lower.
“We’re focused on, among other things, investor losses and whether in fact Penumbra misled investors by using a fictional author to support its business activities,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a Penumbra investor or have information that may assist our investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Penumbra should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email PEN@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895