Philadelphia, Pennsylvania--(Newsfile Corp. - November 30, 2021) - Berger Montague is investigating securities fraud allegations on behalf of investors who purchased the securities of Eargo Inc. (NASDAQ: EAR) ("Eargo" or the "Company") between February 25, 2021 and September 22, 2021 (the "Class Period").
If you purchased Eargo securities during the Class Period, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at email@example.com or (215) 875-3015, or Michael Dell'Angelo at firstname.lastname@example.org or (215) 875-3080, or visit: https://bergermontague.com/cases/berger-montague-investigates-securities-fraud-against-eargo/.
Whistleblowers: Anyone with non-public information regarding Eargo is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Headquartered in San Jose, CA, Eargo is a medical device company that specifically manufactures and sells hearing aids through online platforms. The hearing aids sold by Eargo function to improve hearing loss by allowing natural bass sounds to flow more freely into the ear canal.
On September 22, 2021, Eargo reported that the U.S. Department of Justice ("DOJ") would be conducting a criminal investigation into the company regarding Eargo's insurance reimbursement claims that it submits on behalf of its customers when they purchase the company's connected hearing aids. Eargo also stated that in light of the investigation by the DOJ, the company would be withdrawing its financial guidance for the fiscal year ending December 31, 2021.
Following this news, Eargo's stock plunged approximately 68%, falling from a closing price of $14.81 on September 22, 2021 to $6.86 on September 23, 2021.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Andrew Abramowitz, Senior Counsel
Michael Dell'Angelo, Executive Shareholder
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