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NEW YORK, Feb. 4, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Penumbra, Inc. ("Penumbra" or the "Company") (NYSE: PEN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Penumbra and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On September 14, 2020, the Foundation for Financial Journalism (the "FFJ") published an article raising serious questions about the safety profile of the Company's Jet 7 Xtra Flex catheter, a flagship product. The FFJ noted that since the product's introduction in mid-2019, a U.S. Food and Drug Administration database had recorded 12 deaths associated with the product's use. On this news, Penumbra's stock price fell by nearly 3%, from $199.43 per share on September 13, 2020 to $193.66 per share on September 14, 2020, a decline of $5.77 per share.