Fri Sep 20 13:13:00 UTC 2024: ## Outset Medical Faces Investor Lawsuit After Stock Plunge

**SAN FRANCISCO, Sept. 20, 2024** – Law firm Hagens Berman is urging investors who lost money on Outset Medical (NASDAQ: OM) shares to join a class action lawsuit alleging the company misled investors about its business prospects. The lawsuit follows a steep decline in Outset Medical’s stock price, which has plummeted by 94% since July 7, 2023.

The lawsuit alleges that Outset Medical made false and misleading statements about its Tablo Hemodialysis System, specifically the “TabloCart” product. The company received FDA clearance for the Tablo products in July 2022, but in July 2023, it received a warning letter from the FDA alleging that it was promoting the TabloCart without proper authorization.

Following the warning letter, Outset Medical paused shipments of the TabloCart and announced disappointing financial results. This led to further concerns among investors about the company’s financial performance.

“We are looking into whether Outset Medical may have knowingly tried to skirt the FDA clearance and misled investors about the strategy and financial repercussions of getting caught,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

The lawsuit is seeking to recover losses for investors who purchased Outset Medical shares between August 1, 2022 and August 7, 2024. The deadline for investors to join the lawsuit as a lead plaintiff is October 28, 2024.

Hagens Berman is also encouraging anyone with knowledge that may assist the investigation to contact its attorneys.

**About Hagens Berman**

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm represents investors, whistleblowers, workers, consumers, and others in cases seeking to hold corporations accountable for negligence and other wrongdoings.

**Contact:**

Reed Kathrein
844-916-0895
OM@hbsslaw.com

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