NEW YORK, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired Penumbra, Inc. (“Penumbra” or the “Company”) (NYSE: PEN) securities during the period from August 3, 2020 through December 15, 2020, inclusive (the “Class Period”). Investors have until March 16, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Jet 7 Xtra Flex had known design defects that made it unsafe for its normal use; (2) Penumbra did not adequately address the risk of Jet 7 Xtra Flex causing serious injury and deaths, which had in fact already occurred; (3) the Jet 7 Xtra Flex was likely to be recalled due to its safety issues; and (4) as a result, Penumbra’s public statements as set forth in the complaint were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-371-6600
https://www.kmllp.com
investigations@kmllp.com