NEW YORK–(BUSINESS WIRE)–$ESTA #ESTA—WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Establishment Labs Holdings Inc. (NASDAQ: ESTA) resulting from allegations that the Company may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Establishment Labs securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=9304 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
WHAT IS THIS ABOUT: On October 19, 2022, market analyst Hindenburg Research published a report entitled “Establishment Labs: A Financially Stretched Silicone Safety Charade” which alleged, among other things, that “[d]espite claims of superior safety, we found that almost all key safety studies touted by the company have conflicts of interest, with many undisclosed or under-disclosed.” Further, the report alleged that “Establishment claims to have successfully piloted a ‘revolutionary’ technique to place implants through the armpit using local anesthesia (instead of general), claiming the technique will greatly expand its Total Addressable Market (TAM). This type of insertion has been reported since the 1970s and has been widely available for almost 20 years. It has failed to gain traction due to safety risks.”
The report also alleged that “[b]eyond undisclosed safety questions, we have also identified financial risks. Import/export records show that Establishment ships product to entities formerly owned by the CEO and his family, raising questions of conflicts of interest.”
On this news, Establishment Labs’ stock price fell $5.22, or 9%, to close at $51.13 per share on October 19, 2022.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
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New York, NY 10016
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