Outset Medical, Inc. Class Action Lawsuit

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Outset Medical Class Action Lawsuit 

Company Name	Outset Medical, Inc.
​Class Period	​​​September 15, 2020 to June 13, 2022
Motion Deadline	September 6, 2022
Court	Nothern District of California
Symbol	OM

Investors Who Suffered Losses in Outset Medical Stock File Unity Software Class Action Lawsuit

If you suffered losses in Outset Medical stock call an Outset Medical Stock Loss Lawyer

The Outset Medical class action lawsuit seeks to represent purchasers or acquirers of Outset Medical, Inc. (NASDAQ: OM) common stock between September 15, 2020 and June 13, 2022, inclusive (the “Class Period”).  The Outset Medical class action lawsuit – captioned Plymouth County Retirement Association v. Outset Medical, Inc., No. 22-cv-04016 (N.D. Cal.) – charges Outset Medical and certain of its top executive officers with violations of the Securities Exchange Act of 1934 and is brought on behalf of investors who purchased Outset Medical stock duringn the Class Period.
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If you suffered losses in Outset Medical stock and wish to serve as lead plaintiff of the Outset Medical class action lawsuit, please provide your information below.  You can also contact Outset Medical Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at tmiles@timmileslaw.com.  Lead plaintiff motions for the Outset Medical class action lawsuit must be filed with the court no later than September 6, 2022. If you have questions, please contact ​Outset Medical Stock Loss Lawyer Timothy L. Miles  today.

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Allegations in the Outset Medical Class Action Lawsuit: Shareholders Mislead About Outset Medical Stock

Call an Outset Medical Stock Loss Lawyer to see if you are eligible for an Outset Medical Class Action Lawsuit

Outset Medical’s flagship product is the Tablo Hemodialysis System, a dialysis machine that purifies tap water and then artificially purifies and removes toxins from the blood of patients suffering from kidney failure.

Throughout the Class Period, Outset Medical touted that Tablo can “serve as a dialysis clinic on wheels” that had been “cleared by the [U.S.] Food and Drug Administration (FDA) for use in the hospital, clinic or home setting.”  However, devices used by non-professionals outside of a clinical setting and that can present serious health consequences like Tablo are subject to heightened scrutiny by the FDA, including post-market surveillance studies.  Thus, though cleared by the FDA for sale, Tablo for use in the home setting was subject to additional studies, the results of which could require additional applications for clearance and approvals.  And while performing further regulatory studies during the Class Period, Outset Medical assured investors that it was conducting the studies “in accordance with the FDA approved protocol,” which required an appropriate demonstration of “real-world” human testing given that the device would be used at home by non-professionals.
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But as the Outset Medical class action lawsuit alleges, undisclosed to investors, Outset Medical continuously made significant changes to Tablo for use in the home setting.  The nature of these undisclosed changes: (i) made it likely that the FDA would order Outset Medical to cease all marketing and selling of Tablo for use in the home pending additional applications and approvals; and (ii) prevented Outset Medical from performing the requisite “real-world” human testing on a device cleared for sale, contrary to representations to investors.

On May 4, 2022, Tablo Medical announced disappointing results for the first quarter of 2022, which analysts attributed, among other things, to the untested nature of Tablo in the home setting.  On this news, the price of Outset Medical common stock declined more than 40% over the three trading days that followed.

Then, on June 13, 2022, Outset Medical announced that the FDA had forced it to hold all shipments of Tablo for use in the home until Tablo received proper regulatory clearance.  During a “Business Update” conference call held that day with analysts, Outset Medical CEO Leslie Trigg acknowledged the “ship hold” had already been in place for weeks before investors were provided this material information.  Importantly, CEO Trigg disclosed for the first time that, rather than conducting studies using “real-world data” gathered in the “home environment” as Outset Medical previously stated was required by the FDA, in reality, Outset Medical had “run with a protocol that involves a simulated use environment at a human factors lab.”  On this news, the price of Outset Medical stock fell an additional 34%, further damaging investors who suffered losses in Outset Medical stock.

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The Lead Plaintiff Process

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Outset Medical stock to seek appointment as lead plaintiff in the Outset Medical 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 class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Outset Medical stock, and have further questions, contact ​Outset Medical Stock Loss Lawyer Timothy L. Miles today.

How Can an Outset Medical Loss Lawyer Help Me?

Call an Outset Medical Loss Lawyer if you suffered losses in Outset medical stock

An ​Outset Medical Stock Loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation. An Outside Medical Stock Loss Lawyer focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional. While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discovery every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct, such as an Outset Medical Stock Loss Lawyer who will work to recover the losses you sustained through an Outside Medical class action lawsuit.​

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Contact an ​Outset Medical Loss Lawyer if You Suffered Losses in Outset Medical Stock

​If you suffered losses in Outset Medical stock, contact Outset Medical Stock Loss Lawyer Timothy L. Miles today about an Outset Medical class action lawsuit​, and see what an Outset Medical Stock Loss Lawyer can do for you.

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CONTACT OUTSET MEDICAL STOCK LOSS LAWYER TIMOTHY
​L. MILES TODAY FOR A FREE CASE EVALUATION

 

 

Contact Outset Medical Stock Loss Lawyer Timothy L. Miles Today If you suffered losses in Unity stock

​  Attention: Purchasers of Outset Medical Stock     
If you suffered losses in Outset stock, contact Outset Medical Stock Loss Lawyer Timothy L. Miles about an Outset Medical Class Action Lawsuit today.

Outset Medical Stock Loss Lawyer Timothy L. Miles
​855-Tim-MLaw (855) 846-8529
tmiles@timmileslaw.com
Call Outset Medical Stock Loss Lawyer Timothy L. Miles today for a free case evaluation about a Outset Medical class action lawsuit if you suffered losses in Outback Medical Stock​

FREE CASE EVALUATION: OUTSET MEDICAL STOCK 
Call today for a free case evaluation with an Outset Medical Stock Loss Lawyer about an Outset Medical  class action lawsuit

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