NEW YORK, March 24, 2022 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a securities class action on behalf of investors who purchased or otherwise acquired common stock of Acutus Medical Inc. (“Acutus” or “Company”) (NASDAQ: AFIB) from May 13, 2021 to November 11, 2021, inclusive (the "Class Period"). If you lost more than $300,000 in Acutus, you should contact the Firm.
The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) a material percentage of the Company's AcQMap imaging and mapping systems under evaluation had been randomly installed at sites with little, if any, consideration given to whether the healthcare providers at the selected locations were likely to adopt, or desire, the Company's products; (b) a material percentage of the AcQMap systems under evaluation had been installed in locations where the Company did not possess the infrastructure necessary to appropriately educate, train, and support medical service providers on the system's operations; (c) as a result of (a) and (b) above, defendants were in the process of designing a strategic plan to terminate and relocate approximately 20% of then-existing AcQMap systems evaluation arrangements; (d) the Company's management discussion and analysis was materially false and misleading and failed to disclose that the termination and relocation of approximately 20% of existing AcQMap systems evaluation arrangements was reasonably likely to have a material adverse effect on the Company's 2021 financial results; and (e) the Company's risk factor discussions were materially false and misleading and made reference to potential risks without disclosing that such risks were then-existing or adequately describing the specific nature of the risks then facing the Company.
If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than April 18, 2022. Any member of the proposed Class may serve as the Lead Plaintiff through counsel of their choice. You may obtain additional information about this lawsuit and your ability to become a Lead Plaintiff by contacting our attorneys at investigations@lowey.com or at 914-733-7256.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
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