NEW YORK, Oct. 22, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Establishment Labs Holdings Inc. (“Establishment Labs” or the “Company”) (NASDAQ:ESTA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980.
The investigation focuses on whether Establishment Labs and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
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On October 19, 2022, Hindenburg Research (“Hindenburg”) published a report entitled “Establishment Labs: A Financially Stretched Silicone Safety Charade”. The Hindenburg Report claimed, among other allegations, that:[t]The Establishment adviser who was just hired to support its US launch was sued by the SEC in 2018 for fraudulently lying and then destroying records that concealed regulatory and safety issues related to breast implants:; “[d]despite claims of superior safety, we found that nearly every key safety study touted by the company had conflicts of interest, many of which are undisclosed or under-disclosed”; and “authorities in Australia and France have expressed concerns about the company’s data, with Australian regulators calling the company’s key safety data ‘uncontrolled observational studies'”.
On this news, Establishment Labs’ stock price fell $5.22 per share, or 9.26%, to close at $51.13 per share on October 19, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris and Tel Aviv, is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980