NEW YORK, Feb. 15, 2024 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired InMode Ltd. (“InMode” or the “Company”) (NASDAQ: INMD) securities between June 4, 2021 and October 12, 2023, inclusive (the “Class Period”).
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company heavily discounts almost every device it sells; (2) demand for the Company’s products was driven by its willingness to discount its products; (3) the Company violated U.S. Food and Drug Administration (“FDA”) regulations by engaging in off-label marketing and promoting products for treatment of indications for which they lack FDA approval; and (4) the Company violated FDA regulations by failing to timely report injuries caused by its devices. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of InMode should contact the Firm prior to the April 15, 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
