AFIB Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC, A Leading Class Action Firm, Notifies Acutus Medical, Inc. Investors of Class Action and Encourages Investors to Contact the Firm
NEW YORK, Feb. 17, 2022 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Acutus Medical, Inc. ("Acutus Medical" or the "Company") (NASDAQ: AFIB) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Acutus Medical securities between May 13, 2021 and November 11, 2021, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/afib.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) their ability to grow and scale Acutus' business; (2) Acutus' strategy regarding AcQMap system placements; and (3) the ability of Acutus to improve commercial execution in the United States, including through the expansion and training of sales staff to "ensure" adequate customer account support, which defendants claimed would be a major growth driver. Specifically, Defendants made materially false and misleading statements and failed to disclose that: (a) a material percentage of the AcQMap systems under evaluation had been randomly installed at sites with little, if any, consideration given to whether the healthcare providers at the selected locations were likely to adopt, or desire, Acutus Medical's products; (b) a material percentage of the AcQMap systems under evaluation had been installed in locations where Acutus Medical did not possess the infrastructure necessary to appropriately educate, train, and support medical service providers on the system's operations; (c) as a result, defendants were in the process of designing a strategic plan to terminate and relocate approximately 20% of then-existing AcQMap systems evaluation arrangements; (d) the Company's management discussion and analysis was materially false and misleading and failed to disclose that the termination and relocation of approximately 20% of existing AcQMap systems evaluation arrangements was reasonably likely to have a material adverse effect on Acutus Medical's 2021 financial results; and (e) Acutus Medical's risk factor discussions were materially false and misleading and made reference to potential risks without disclosing that such risks were then-existing or adequately describing the specific nature of the risks then facing the Company.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/afib or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Acutus Medical you have until April 18, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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