Pomerantz LLP has announced the filing of a class action lawsuit against InMode Ltd. (NASDAQ: INMD) due to allegations of securities fraud and unlawful business practices. Investors who are potentially affected by this lawsuit are advised to contact Danielle Peyton at [email protected] or call 646-581-9980, ext. 7980.
If you are a shareholder who purchased or acquired InMode securities during the Class Period, which runs until April 15, 2024, you have the opportunity to request to be appointed as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
The class action was initiated after an investigative publication revealed that InMode had threatened customers with legal action for making complaints regarding the Company’s devices and sales tactics. Additionally, customers reported that InMode offered to replace defective products if they signed confidentiality agreements with non-disparagement clauses.
This news caused InMode’s stock price to fall by $1.21 per share, or 3.27%, to close at $35.81 per share on February 21, 2023.
Further issues arose on October 12, 2023, when InMode revised its full-year revenue guidance, citing reasons such as higher interest rates, tighter leasing approval standards, and loan processing bottlenecks. Later that day, an investigative publication announced an upcoming report on InMode, focusing on the Company’s statements to investors about pricing flexibility and margin consistency. The publication ultimately revealed that InMode regularly and significantly discounted the prices of its devices.
As a result of this news, InMode’s stock price fell by $7.24 per share, or 25.87%, over the next two trading sessions, closing at $20.75 per share on October 13, 2024.
Pomerantz LLP, a prominent firm in the fields of corporate, securities, and antitrust class litigation, is known for fighting for the rights of victims of securities fraud and corporate misconduct. For more information, visit www.pomlaw.com.
Contact:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE: Pomerantz LLP
InMode Ltd. (NASDAQ: INMD) operates in the aesthetic medical technology industry. The company develops and sells innovative surgical and non-surgical medical devices for use in various procedures, including body contouring, facial rejuvenation, and vaginal health.
The global aesthetic medical technology market is expected to experience significant growth in the coming years. Factors such as the increasing demand for minimally invasive procedures, advancements in technology, and the growing aging population that desires aesthetic treatments are driving the market’s expansion.
According to market forecasts, the global aesthetic medical technology market is projected to reach a value of $17.6 billion by 2025, with a compound annual growth rate (CAGR) of 11.5% during the forecast period.
However, the industry also faces challenges and issues that could impact companies like InMode. One common concern is the regulatory environment, as medical devices must meet stringent safety and efficacy standards imposed by regulatory bodies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). Failure to comply with these regulations can result in significant fines, product recalls, or legal actions.
Market competition is another factor that companies in the industry must contend with. There are numerous players in the market, offering similar products and services, which can lead to price wars and reduced profit margins.
Additionally, companies operating in the aesthetics industry need to stay on top of consumer demand trends. The industry is heavily influenced by changing beauty standards and preferences, so companies must continuously innovate and adapt their products to meet evolving consumer needs.
For more information on the aesthetic medical technology industry, you can visit the Pomerantz LLP website or explore industry reports from trusted sources such as market research firms and industry associations.