San Diego, CA -- (SBWIRE) -- 03/26/2012 -- An investor in NASDAQ:ZLTQ filed a lawsuit against Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) over alleged violations of Federal Securities Laws by certain Statements made in its IPO.
Investors who purchased shares of Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) pursuant and or traceable Zeltiq Aesthetics’ initial public offering in October 2011, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges that defendants violated the Securities Exchange Act of 1933 by allegedly making false and misleading statements in the registration statement and prospectus for its IPO.
Zeltiq Aesthetics Inc went public in October 2011, which raised $89.3 million, at $13 a share. Shares of Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) rose in November 2011 to $17 per share and traded for the most part of the first two months in 2012 over $10 per share.
Then on March 6, 2012 ZELTIQ Aesthetics, Inc. announced its financial results for the quarter and year ended December 31, 2011 and provided its guidance for 2012. Among other things, ZELTIQ Aesthetics issued its Fiscal Year 2012 Revenue guidance, which is below Analysts' Estimates
Following the announcement shares of Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) dropped from $11.11 on March 5, 2012 to as low as $5.64 on March 8, 2012 and closed on Friday, March 23, 2012 at $5.71 per share.
Those who purchased shares of Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) pursuant and or traceable Zeltiq Aesthetics’ initial public offering in October 2011, you have certain options and you should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego