According to the Complaint, Restoration Robotics, Inc. describes itself as “developing and commercializing a robotic device, the ARTAS System, that assists physicians in performing many of the repetitive tasks that are a part of a follicular unit extraction surgery, a type of hair restoration procedure.”

The Complaint alleges that Restoration Robotics negligently issued untrue statements of material facts in, and omitted to state material facts required to be stated from, the Offering Materials issued in connection with the Initial Public Offering. The Complaint further alleges that as a result of the materially misleading Offering Materials, the Company’s stock price was artificially inflated at the time of the IPO.

On October 2, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. The consolidated cases shall be captioned "In re Restoration Robotics, Inc. Securities Litigation." On November 30, Lead Plaintiff filed a consolidated amended Complaint. Defendants filed a Motion to Dismiss the consolidated amended Complaint on January 29, 2019. On October 18, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint.

Lead Plaintiff filed a Motion for Class Certification on May 29, 2020. On July 29, the Court issued an Order granting Lead Plaintiff's Motion for Class Certification. On April 22, 2021, the parties entered into a Stipulation and Agreement of Settlement. On May 27, the Court granted preliminary approval of the Settlement. On September 9, the Court granted final approval of the Settlement and entered Final Judgment.

On February 17, 2023, the Court granted Plaintiff’s Motion for Final Distribution of Settlement Funds.