ACUTUS MEDICAL, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed against in the United States District Court for the Southern District of California against Acutus Medical, Inc.

LEAD PLAINTIFF DEADLINE IS APRIL 18, 2022

NEW YORK and SAN DIEGO, Feb. 24, 2022 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of investors who purchased or otherwise acquired Acutus Medical, Inc. (“Acutus” or the “Company”) (NASDAQ: AFIB) common stock between May 13, 2021 and November 11, 2021, inclusive (the “Class Period”).

All investors who purchased the shares of Acutus Medical, Inc. and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in Acutus Medical, Inc. you may, no later than April 18, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Acutus Medical, Inc.

PLEASE CLICK HERE TO JOIN THE CASE

The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

• 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’s products;
• a material percentage of the AcQMap systems under evaluation had been installed in locations where Acutus did not possess the infrastructure necessary to appropriately educate, train, and support medical service providers on the system’s operations;
• as a result of the foregoing, Acutus was in the process of designing a strategic plan to terminate and relocate approximately 20% of then-existing AcQMap systems evaluation arrangements;
• the termination and relocation of approximately 20% of existing AcQMap systems evaluation arrangements were reasonably likely to have a material adverse effect on Acutus Medical’s 2021 financial results; and
• as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.

On November 11, 2021, Acutus announced that it was slashing its 2021 revenue guidance from a range of $22 million to $33 million down to a range of $17 million to $17.5 million. The Company attributed the revision in substantial part to on the Company’s adoption of a new commercialization strategy focused on system relocations, sales training, and system utilization. During a conference call held the same day, the Company revealed that it had removed and repositioned approximately 20% of its AcQMap systems under evaluation arrangements during the prior quarter. The Company also admitted that these systems had been experiencing below-target utilization and that relocating such a large portion of the Company’s installations would negatively impact Acutus’ growth.

On this news, Acutus’s share price fell $3.02, or 45.3%, to close at $3.64 on November 12, 2021, thereby injuring investors.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

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