OM REMINDER – Robbins LLP Reminds OM Stockholders to Obtain Counsel in Light of the Pending Lead Plaintiff Deadline

Core Viewpoint - A class action has been filed against Outset Medical, Inc. for allegedly misleading investors regarding its business prospects and the performance of its Tablo products [1][2]. Allegations - The complaint alleges that Outset Medical failed to disclose that its Tablo products were marketed for uses not approved by the FDA, which could lead to additional regulatory submissions [2]. - It is claimed that the company lacked the necessary sales team and processes to effectively ramp up sales of the Tablo products, which would adversely impact revenue growth [2]. - The positive statements made by the company regarding its business operations were allegedly materially misleading due to the undisclosed risks [2]. Financial Impact - On August 7, 2024, Outset Medical reported second quarter results that significantly missed consensus estimates and lowered its full-year revenue guidance by $39 million at the midpoint [3]. - Following the announcement, the company's share price dropped by $2.33, or 68.53%, closing at $1.07 per share on August 8, 2024, with unusually high trading volume [3]. Class Action Participation - Shareholders interested in participating as lead plaintiffs in the class action must submit their applications by October 28, 2024 [4]. - Shareholders can choose to remain absent from the case while still being eligible for recovery [4]. About Robbins LLP - Robbins LLP is noted for its commitment to shareholder rights litigation and has recovered over $1 billion for shareholders since its inception [5].