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Invuity, Inc. (IVTY)

NASDAQ:IVTY

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Invuity, Inc. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Invuity, Inc. (“Invuity” or the “Company”) (NASDAQ:IVTY) of the April 28, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Invuity common stock between July 19, 2016 and November 3, 2016 (the “Class Period”).  The case, Paciga v. Invuity, Inc. et al, No. 4:17-cv-01005 was filed on February 27, 2017, and has been assigned to Judge Jeffrey Steven White.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (a) the continued opportunities for growth in mature active accounts stagnated after the initial sale of a new product; (b) revenues per active account were actually declining; (c) the Company’s sales force was not meeting stated revenue growth goals in mature active accounts; and (d) as a result, the Company’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

Specifically, after market close on November 3, 2016, Invuity reported its third quarter 2016 earnings for the period ended September 30, 2016. The Company stated it had dramatically cut its revenue expectations and 2017 guidance from a projected $60 million to $43 million due in part to a decline in average revenue per account.

On his news, Invuity’s share price fell from $9.25 per share on November 3, 2016 to a closing price of $5.10 on November 4, 2016 —a $4.15 or a 44.87% drop.

Take Action

If you invested in Invuity stock between July 19, 2016 and November 3, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Invuity’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Invuity, Inc. (IVTY)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 03/15/2017

Send Information

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