Press release
Investigation announced for Investors in shares of Establishment Labs Holdings Inc. (NASDAQ: ESTA) over possible Violations of Securities Laws
An investigation for investors in Establishment Labs Holdings Inc. (NASDAQ: ESTA) shares over potential securities laws violations
Investors who purchased shares of Establishment Labs Holdings Inc. (NASDAQ: ESTA), 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 Establishment Labs Holdings Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Costa Rica based Establishment Labs Holdings Inc., a medical technology company, manufactures and markets medical devices for aesthetic and reconstructive plastic surgery. Establishment Labs Holdings Inc. reported that its annual Total Revenue rose from $84.67 million in 2020 to $126.68 million in 2021 and that its Net Loss increased from $38.12 million in 2020 to $41.13 million in 2021.
On October 19, 2022, market analyst Hindenburg Research published a report entitled "Establishment Labs: A Financially Stretched Silicone Safety Charade" which alleged, among other things, that "[d]espite claims of superior safety, we found that almost all key safety studies touted by the company have conflicts of interest, with many undisclosed or under-disclosed." Further, the report alleged that "Establishment claims to have successfully piloted a 'revolutionary' technique to place implants through the armpit using local anesthesia (instead of general), claiming the technique will greatly expand its Total Addressable Market (TAM). This type of insertion has been reported since the 1970s and has been widely available for almost 20 years. It has failed to gain traction due to safety risks."
Shares of Establishment Labs Holdings Inc. (NASDAQ: ESTA) declined from $67.00 per share on September 12, 2022, to $44.03 per share on October 19, 2022.
Those who purchased shares of Establishment Labs Holdings Inc. (NASDAQ: ESTA) have certain options and should contact the Shareholders Foundation.
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 lawsuits, 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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