Cutera Shareholder News: Johnson Fistel Urges Investors with Losses to Reach Out Regarding Class Action Investigation – CUTR
SAN DIEGO, May 06, 2023 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP is investigating whether Cutera, Inc. (“Cutera” or the “Company”) (NASDAQ: CUTR), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws.
What if I purchased Cutera common stock? If you purchased Cutera common stock and suffered significant losses on your investment, join our investigation now:
Click or paste the following web address into your browser to submit your losses:
https://www.johnsonfistel.com/investigations/cutera
Or for more information, contact Jim Baker at [email protected] or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? On February 28, 2023, the company announced that it would fail to file its 2022 annual report in a timely manner. The company also disclosed that it identified a “material weaknesses in its internal control over financial reporting related to ineffective information technology general controls and ineffective inventory count controls.”
Then on April 12, 2023, the company announced Executive Leadership and Governance Changes. This restructuring included the appointment of a new interim CEO and a new Independent Chair of the Board. Following this news, Cutera’s stock price fell 26%, in intraday trading.
Then, after trading hours on April 18, 2023, in response to the April 12, 2023, press release two Cutera directors (including the founder and CIO of hedge fund Voce Capital Management LLC) – who together own approximately 7.0% of Cutera’s outstanding shares – issued a statement indicating that Cutera’s April 12, 2023 press release “contains numerous misleading, incomplete and untrue statements.” Following this news, Cutera’s stock price fell and continued to fall in the subsequent trading days.
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or [email protected].
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: [email protected]
