NEW YORK--(BUSINESS WIRE)--#Action--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Acutus Medical Inc. (“Acutus” or the “Company”) (NASDAQ: AFIB) in the United States District Court for the Southern District of California on behalf of all persons and entities who purchased or otherwise acquired Acutus securities between May 13, 2021 and November 11, 2021, both dates inclusive (the “Class Period”). Investors have until April 18, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) their ability to grow and scale Acutus’ business; (2) Acutus’ strategy regarding AcQMap system placements; and (3) the ability of Acutus to improve commercial execution in the United States, including through the expansion and training of sales staff to “ensure” adequate customer account support, which defendants claimed would be a major growth driver. Specifically, Defendants made materially false and misleading statements and failed to disclose that: (a) a material percentage of the AcQMap 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, Acutus Medical's products; (b) a material percentage of the AcQMap systems under evaluation had been installed in locations where Acutus Medical did not possess the infrastructure necessary to appropriately educate, train, and support medical service providers on the system's operations; (c) as a result, 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 Acutus Medical's 2021 financial results; and (e) Acutus Medical’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 purchased or otherwise acquired Acutus shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
