Investigation announced for Investors in shares of Penumbra, Inc. (NYSE: PEN)

Penumbra, Inc. is under investigation concerning potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Penumbra, Inc. (NYSE: PEN), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Penumbra, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Alameda, CA based Penumbra, Inc. designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. Penumbra, Inc. reported that its annual Total Revenue rose from $444.93 million in 2018 to $547.4 million in 2019, and that its EBIT increased from $29.98 million in 2018 to $47.5 million in 2019.

On November 10, 2020, Quintessential Capital Management issued a research report on the Company entitled “Penumbra and its ‘Killer Catheter’: A tale of corporate greed and seemingly blatant disregard for patients’ lives[.]”

On December 8, 2020, Quintessential Capital Management released a follow-up research report entitled “Is Penumbra’s core scientific research authored by a fake person?: The incredible story of Penumbra’s Dr. Antik Bose[.]” The follow-up report alleged that some of Penumbra’s scientific research pieces appear to have been incorrectly attributed or even authored by a fake individual.

Shares of Penumbra, Inc. (NYSE: PEN) declined from $273.94 per share on November 12, 2020, to $182.62 per share on December 8, 2020.

Those who purchased shares of Penumbra, Inc. (NYSE: PEN) 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.

This release was published on openPR.