NEW YORK, Oct. 17, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of  Outset Medical, Inc. (“Outset” or the “Company”) (NASDAQ: OM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Outset and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On July 7, 2023, Outset disclosed that it had received a Warning Letter from the United States Food and Drug Administration (“FDA”) which “assert[ed] that certain materials reviewed by the FDA and found on the Company’s website promote continuous renal replacement therapy (CRRT), a modality outside of the current indications for the Tablo Hemodialysis System” and that “the TabloCart with Prefiltration . . . requires prior 510(k) clearance for marketing authorization.” On this news, Outset’s stock price fell $1.20, or 5.9%, to close at $19.26 per share on July 10, 2023. Then, on October 12, 2023, healthcare company Novo Nordisk announced that one of its diabetes treatments could also be used to treat chronic kidney disease.

On this news, Outset Medical’s stock price fell $2.05 per share, or 21.16%, to close at $7.64 per share on October 11, 2023.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. 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 in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

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CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

SOURCE Pomerantz LLP