Article: Penumbra, Inc. Investors: Company Investigated by the Portnoy Law Firm

Article - Media, Publications

Penumbra, Inc. Investors: Company Investigated by the Portnoy Law Firm

GLOBE NEWSWIRE, 04 January 2021

​The Portnoy Law Firm advises Penumbra, Inc. (“Penumbra” or the “Company”) (NYSE: PEN) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses. On November 10, 2020, released research report on Penumbra was released by Quintessential Capital Management entitled “Penumbra and its ‘Killer Catheter’: A tale of corporate greed and seemingly blatant disregard for patients’ lives[.]”
Continue reading “Article: Penumbra, Inc. Investors: Company Investigated by the Portnoy Law Firm”

Article: PEN FRAUD CLAIMS EXPAND: Hagens Berman Encourages Penumbra (PEN) Investors to Contact the Firm, Investigation Expanded to Cover More Recent Claims of Fraud

Article - Media, Publications

PEN FRAUD CLAIMS EXPAND: Hagens Berman Encourages Penumbra (PEN) Investors to Contact the Firm, Investigation Expanded to Cover More Recent Claims of Fraud

ACCESSWIRE, 31 December 2020

The investigation centers on whether Penumbra misled investors about the company’s flagship products for treating ischemic stroke.

On Nov. 9, 2020, research firm Quintessential Capital Management (“QCM”) published a scathing report about “Penumbra and its ‘killer catheter'”, concluding: (1) “Penumbra’s flagship ‘Jet 7′ device is linked to 18 recorded deaths, 39 injuries: this might be only the ‘tip of the iceberg;'” (2) “[t]he device is unsafe and unmarketable: we believe an FDA class 1 recall highly likely”; (3) “Penumbra may have been highly misleading in critical parts of its communication with doctors and investors;” and, (4) “[d]espite appearances, financial metrics are rapidly deteriorating, anticipating a possible sharp drop in sales.”
Continue reading “Article: PEN FRAUD CLAIMS EXPAND: Hagens Berman Encourages Penumbra (PEN) Investors to Contact the Firm, Investigation Expanded to Cover More Recent Claims of Fraud”