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Oklahoma City, OK (October 11, 2021) – On October 6, 2021, a securities class action lawsuit was filed in the United States District Court for the Northern District of California against Eargo, Inc. (NASDAQ: EAR). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is February 25, 2021 through September 22, 2021. More specifically, Defendants neglected to reveal that (1) Eargo had wrongly pursued reimbursements from third-party payors; (2) that the foregoing was reasonably likely to lead to regulatory scrutiny; (3) that, as a result and because the reimbursements at issue involved the Company’s largest third-party payor, Eargo’s financial results would be unfavorably impacted; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
The lawsuit seeks to recover damages on behalf of all Eargo, Inc. investors who purchased common stock during the Class Period. You may move the Court no later than Monday, December 6, 2021 to serve as a lead plaintiff for the entire Class.
If you wish to obtain further information and participate in this or any other securities litigation, or should you have any questions regarding this notice or preservation of your rights, please contact: Priscilla Scoggins at email@example.com