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Update in Lawsuit that was filed for Investors in Obalon Therapeutics Inc (NASDAQ: OBLN) shares

10-02-2019 07:25 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit is pending for certain investors in Obalon Therapeutics Inc (NASDAQ: OBLN) shares and Obalon Therapeutics Inc.

A lawsuit is pending for certain investors in Obalon Therapeutics Inc (NASDAQ: OBLN) shares and Obalon Therapeutics Inc.

An investor in Obalon Therapeutics Inc (NASDAQ: OBLN) filed a lawsuit against Obalon Therapeutics Inc (NASDAQ: OBLN) over alleged securities laws violations.

Investors who purchased shares of Obalon Therapeutics Inc (NASDAQ: OBLN) and currently hold any of those Obalon Therapeutics Inc (NASDAQ: OBLN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On February 14, 2018, a lawsuit was filed against Obalon Therapeutics Inc (NASDAQ: OBLN) over alleged securities laws violations. The plaintiff alleged that the Defendants failed to disclose that Obalon Therapeutics Inc recognized revenue in violation of Generally Accepted Accounting principles (“GAAP”), that the Company lacked adequate internal controls over accounting and financial reporting, and that, as a result of the foregoing, Obalon Therapeutics Inc’s financial statements and Defendants’ statements about Obalon’s business, operations, and prospects, were materially false and misleading at all relevant times. Recently the court denied in part a motion by the defendants to dismiss the case and the case is moving forward.

Those who purchased shares of Obalon Therapeutics Inc (NASDAQ: OBLN), have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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