NEW YORK, Jan. 24, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Obalon Therapeutics, Inc. ("Obalon" or the "Company") (NASDAQ: OBLN). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/obln.
The investigation concerns whether Obalon and certain of its officers and/or directors have violated Sections federal securities laws.
On January 23, 2018, Obalon announced that it would cancel its previously announced public offering of Obalon common stock after its independent auditor, KPMG LLP, received a complaint from a "purported whistleblower" alleging "improper revenue recognition during the Company's fourth fiscal quarter of 2017." On this news, Obalon's share price fell $1.73, or 33.33%, to close at $3.46 on January 23, 2018.
If you are aware of any facts relating to this investigation, or purchased shares of Obalon, you can assist this investigation by visiting the firm's site: www.bgandg.com/obln. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
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