Penumbra, Inc. (PEN)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Penumbra, Inc. ("Penumbra” or the "Company") (NYSE: PEN). The investigation concerns whether Penumbra and certain of its officers and/or directors have violated federal securities laws.
On November 10, 2020, market analyst Quintessential Capital Management (“Quintessential”) released a research report on the Company, entitled “Penumbra and its ‘Killer Catheter’: A tale of corporate greed and seemingly blatant disregard for patients’ lives[.]” Then, on December 8, 2020, Quintessential released a follow-up research report entitled “Is Penumbra’s core scientific research authored by a fake person?: The incredible story of Penumbra’s Dr. Antik Bose[.]” This follow-up report alleged that some of the Company’s scientific research pieces appear to have been incorrectly attributed to or even authored by a non-existent individual. On this news, Penumbra’s stock price fell $19.95 per share, or almost 9%, to close at $204.07 per share on December 8, 2020. Finally, on December 15, 2020, Penumbra announced that it was “voluntarily recalling all configurations” of its JET 7 Xtra Flex Reperfusion Catheter “because the catheter may become susceptible to distal tip damage during use. Distal tip damage in conjunction with pressurization or contrast injection may result in potential vessel damage, and subsequent patient injury or death.” On this news, Penumbra’s stock price fell $13.84 per share, or 7%, to close at $174.98 per share on December 16, 2020.
If you are aware of any facts relating to this investigation, or purchased Penumbra shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.