A lawsuit was filed on behalf of investors in Intersect ENT Inc (NASDAQ: XENT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 05/29/2019 -- The Shareholders Foundation announced that an investor, who purchased shares of Intersect ENT Inc (NASDAQ: XENT), filed a lawsuit over alleged violations of Federal Securities Laws by Intersect ENT Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Intersect ENT Inc (NASDAQ: XENT) have certain options and for certain investors are short and strict deadlines running. Deadline: July 15, 2019. NASDAQ: XENT investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On August 1, 2018, Intersect ENT Inc disclosed that it faced certain challenges with the launch of INUVA, which had negatively impacted the Company's second quarter 2018 financial results.
Then, on May 6, 2019, Intersect ENT Inc disclosed a first quarter 2019 loss of $10.8 million and lowered guidance for the remainder of 2019. The Company also reported that Earnhardt, the Company's CEO of 11 years, resigned.
The plaintiff claims that between August 1, 2018 and May 6, 2019 Defendants failed to disclose to investors that the Company lacked adequate reimbursement representatives to ensure physicians had access to SINUVA, that, as a result, the Company's sales force would focus on ensuring reimbursement, that, as a result, the Company's sales representatives were less focused on driving sales, that physicians were less likely to adopt the Company's SINUVA due to transaction costs associated with seeking reimbursement, that the Company would increase staffing to address these issues, and 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.
Those who purchased shares of Intersect ENT Inc (NASDAQ: XENT) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.