NEW YORK, Feb. 24, 2024 /7Newswire — Pomerantz LLP announces that a class action lawsuit has been filed against InMode Ltd. (“InMode” or the “Company”) (NASDAQ: INMD).Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether InMode and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until April 15, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired InMode securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On February 17, 2023, an investigative publication revealed that InMode had threatened certain customers with legal action over complaints made about the Company’s devices and sales tactics. The customers also stated that InMode offered to replace defective products on the condition of signing confidentiality agreements with non-disparagement clauses.
On this news, InMode’s stock price fell $1.21 per share, or 3.27%, to close at $35.81 per share on February 21, 2023.
Then, on October 12, 2023, InMode lowered its full-year revenue guidance, citing higher interest rates, tighter leasing approval standards, and bottlenecks in loan processing. Later that same day, an investigative publication announced a forthcoming report on InMode, relating to the Company’s statements to investors about pricing flexibility of products and margin consistency. After the close of trading, the publication released that story, revealing that the Company had routinely and significantly discounted the prices of its devices.
On this news, InMode’s stock price fell $7.24 per share, or 25.87%, over the following two trading sessions, to close at $20.75 per share on October 13, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
SOURCE Pomerantz LLP