SAN DIEGO, Oct. 24, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Eargo, Inc. ("Eargo” or the "Company") (NASDAQ: EAR). The class action is on behalf of shareholders who purchased Eargo common between February 25, 2021, and September 22, 2021. If you wish to serve as lead plaintiff in this class action, you must move the Court no later than December 6, 2021.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, as well as failed to disclose material adverse facts and failed to disclose to investors that: (1) that Eargo had improperly sought reimbursements from certain third-party payors; (2) that the foregoing was reasonably likely to lead to regulatory scrutiny; (3) that, as a result and because the reimbursements at issue involved the Company's largest third-party payor, Eargo's financial results would be adversely impacted; and (4) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and lacked reasonable basis at all relevant times.
A lead plaintiff will act on behalf of all other class members in directing the Eargo class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the Eargo class action lawsuit is not dependent upon serving as lead plaintiff.
If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471