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Faruqi & Faruqi, LLP Announces Investigation of ZELTIQ Aesthetics, Inc. (ZLTQ)
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at ZELTIQ Aesthetics, Inc. (“ZELTIQ” or the “Company”) (NASDAQ: ZLTQ).
Faruqi & Faruqi is investigating allegations that ZELTIQ executives misled investors by failing to disclose material information about the delayed sale of Company products and increased competition from a competitor's Liposonix business.
On March 6, 2012, shares of ZELTIQ plummeted after the Company announced fourth quarter 2011 sales and profits that fell well below analyst estimates. ZELTIQ reported a loss per share of $0.22, while analysts had been expecting a per share loss of only $0.09. In addition, ZELTIQ predicted 2012 sales in the range of $90 million to $94 million, well below analyst expectations of $114 million.
In the days following this extremely disappointing news, ZELTIQ’s stock price lost nearly 47% of its value – falling from $11.11 per share on March 5, 2012, to only $5.66 per share on March 8, 2012.
If you purchased ZELTIQ securities and would like to discuss your legal rights, contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding ZELTIQ’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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