SAN DIEGO, Feb. 28, 2024 (GLOBE NEWSWIRE) — The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers of InMode Ltd. (NASDAQ: INMD) common stock between June 4, 2021 and October 12, 2023, both dates inclusive (the “Class Period”), have until April 15, 2024 to seek appointment as lead plaintiff of the InMode class action lawsuit. Captioned Cement Masons’ and Plasterers’ Local No. 502 Pension Fund v. InMode Ltd., No. 24-cv-01219 (C.D. Cal.), the InMode class action lawsuit charges InMode as well as certain of InMode’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the InMode class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-inmode-ltd-class-action-lawsuit-inmd.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the InMode class action lawsuit must be filed with the court no later than April 15, 2024.
CASE ALLEGATIONS: InMode is a global provider of aesthetic medical devices and technologies.
The InMode class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) InMode heavily discounts almost every device it sells; (ii) demand for InMode’s products was driven by InMode’s willingness to discount its products; (iii) InMode 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 (iv) InMode violated FDA regulations by failing to timely report injuries caused by its devices.
The InMode class action lawsuit further alleges that on February 17, 2023, an investigative publication reported that InMode customers were threatened with legal action after filing complaints regarding InMode’s devices and sales tactics. On this news, the price of InMode common stock fell, according to the complaint.
Then, on October 12, 2023, InMode lowered its full-year revenue guidance, which InMode blamed on higher interest rates, tighter leasing approval standards, and bottlenecks in loan processing, the complaint further alleges. Later that day, an investigative publication released a story reporting that InMode significantly discounted the prices of its devices on a routine basis throughout the Class Period, according to the complaint. The InMode class action lawsuit alleges that on this news, the price of InMode common stock fell nearly 26% over two trading sessions.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased InMode common stock during the Class Period to seek appointment as lead plaintiff in the InMode class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the InMode class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the InMode class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the InMode class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Contact:
Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal, 800-449-4900
655 W. Broadway, Suite 1900, San Diego, CA 92101
info@rgrdlaw.com
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