NEW YORK, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own shares of InMode Ltd. (NASDAQ: INMD)?
- Did you purchase your shares between June 4, 2021 and October 12, 2023, inclusive?
- Did you lose money in your investment in InMode Ltd.?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the common stock of InMode Ltd. (“InMode or the “Company”) (NASDAQ: INMD) between June 4, 2021 and October 12, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Central District of California and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired InMode common stock, and/or would like to discuss your legal rights and options please visit InMode Ltd. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
According to the Complaint, InMode produces medical equipment, including devices purporting to offer body sculpting and other rejuvenation technologies. InMode’s target customers include dermatologists, dentists, obstetricians and gynecologists, and medical spas.
This matter arises from Defendants’ material misrepresentations and omissions regarding the price at which InMode sold its devices, as well as InMode’s compliance with U.S. Food and Drug Administration regulations. Specifically, InMode misled investors regarding the pricing of, and demand for, its products. Despite making representations to the contrary throughout the Class Period, InMode heavily discounts almost every device it sells. In fact, the Company expects sales representatives to discount devices anywhere between 16% and 40% off the list price.
On October 12, 2023, before the market opened, InMode lowered its full-year revenue guidance, which the Company blamed on 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 throughout the Class Period.
On this news, InMode’s stock price fell $5.59, or almost 20%, to close at $22.40 per share on October 12, 2023.
If you wish to serve as lead plaintiff, you must move the Court no later than April 15, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired InMode common stock, and/or would like to discuss your legal rights and options please visit InMode Ltd. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
