Uncovering The Veil: Outset Medical Faces Allegations of Securities Fraud

LOS ANGELES
,

Oct. 4, 2024
/PRNewswire/ — The Law Offices of Frank R. Cruz announces that investors with substantial losses have the opportunity to lead the securities fraud class action lawsuit against Outset Medical, Inc. (“Outset Medical” or the “Company”) OM.

Class Period:
August 1, 2022 –
August 7, 2024


Lead Plaintiff Deadline:
October 28, 2024

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose critical information to investors. This included the misleading marketing of Tablo products for continuous renal replacement therapy not approved by the FDA. The Company was anticipated to submit an additional 510(k) application due to this discrepancy. Furthermore, there was a substantial risk of halting Tablo product sales awaiting FDA approval for additional indications, highlighting operational deficiencies within Outset Medical.

As a consequence of the above, the Company’s revenue growth would be significantly impacted, creating a scenario where Defendants’ positive statements regarding Outset Medical’s business operations were misleading or lacked a reasonable basis.

To be a member of the class action, no immediate action is required. Shareholders may seek counsel of their choice or opt to remain passive members of the class action. For further details or inquiries regarding this lawsuit, individuals may reach out to Frank R. Cruz of The Law Offices of Frank R. Cruz.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.