NEW YORK, March 17, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Natus Medical Incorporated ("Natus" or the "Company") (NASDAQ: BABY) of the March 31, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Natus stock or options between October 16, 2015 and April 3, 2016 (the "Class Period"). The case, Badger v. Natus Medical Incorporated et al., No. 17-cv-00458 was filed on January 30, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose the risk of unfulfilled payments from its contract with Venezuela's Ministry of Health leading to a material decline in the Company's revenues and profitability.
First, on October 16, 2015, Natus announced that its Argentinian subsidiary had entered into a three-year supply contract with the Ministry of Health of Venezuela pursuant to which the Company would receive $232.5 million, including $69 million in prepayments "expected" during the first quarter of 2016.
Then, on April 4, 2016, the Company announced lower-than-expected preliminary 2016 first quarter revenue of about $87.5 million, lower than its previous guidance of $91.5 million to $92.5 million, and below analysts' expectations. The Company cited the previously unexpected cancellation of payments in key Venezuelan government supply contracts as a reason for the disappointing results.
Request more information now by clicking here: www.faruqilaw.com/BABY. There is no cost or obligation to you.
If you invested in Natus stock or options between October 16, 2015 and April 3, 2016 and would like to discuss your legal rights, visit www.faruqilaw.com/BABY. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Natus's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
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Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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