On or around 10/26/2018 (Ongoing date of last review)
Filing Date: February 27, 2017
According to a law firm press release, after the markets closed on November 3, 2016, Invuity announced its financial results for the third quarter of 2016 and, citing in part a decline in average revenue per account, the Company lowered its guidance. Invuity’s stock price fell significantly following the news.
The complaint filed in this class action alleges that Invuity issued false and misleading statements about its operations and results. Specifically, during the Class Period, Invuity misrepresented its ability to sustain its average revenue per account, which serves as a critical metric for the Company’s growth.
On May 30, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on July 31. Defendants filed a Motion to Dismiss the amended Complaint on September 14. On September 26, 2018, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to file an amended Complaint. On October 16, Lead Plaintiff filed a second amended Complaint. Lead Plaintiff filed a revised second amended Complaint on October 26.
Company & Securities Information
Defendant: Invuity, Inc.
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: IVTY
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Mike Paciga, et al. v. Invuity, Inc., et al.
COURT: N.D. California
DOCKET #: 17-CV-01005
JUDGE: Hon. Jeffrey S. White
DATE FILED: 02/27/2017
CLASS PERIOD START: 07/19/2016
CLASS PERIOD END: 11/03/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Prongay & Murray LLP 1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067 (310) 201-9150 (310) 432-1495 ·