Outset Medical(US:OM) Prnewswire·2024-09-17 09:45Core Viewpoint - A class action securities lawsuit has been filed against Outset Medical, alleging securities fraud that affected investors between August 1, 2022, and August 7, 2024 [1]. Group 1: Lawsuit Details - The complaint claims that Outset Medical made false statements regarding its Tablo products, which were marketed for uses not approved by the FDA [2]. - It is alleged that Outset Medical was likely to submit an additional 510(k) application for the Tablo products due to these misrepresentations [2]. - The lawsuit indicates a substantial risk that Outset Medical would have to cease sales of the Tablo products pending FDA approval of additional indications [2]. - The company reportedly lacked the necessary sales team and processes to effectively ramp up Tablo sales, which would adversely impact revenue growth [2]. - Defendants' positive statements about the company's business and prospects were claimed to be materially misleading and lacked a reasonable basis [2]. Group 2: Next Steps for Investors - Investors who suffered losses in Outset Medical during the specified timeframe have until October 28, 2024, to request appointment as lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4].