San Diego, CA — 02/06/2018 — Obalon Therapeutics Inc is under investigation over potential securities laws violations in connection with certain financial statements made by Obalon Therapeutics Inc. The investigation was announced for investors in NASDAQ:OBLN shares.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Obalon Therapeutics Inc (NASDAQ:OBLN) concerning whether certain statements by Obalon Therapeutics regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On January 23, 2018, Obalon Therapeutics Inc announced that it was canceling its previously announced public offering after its auditor, KPMG LLP, received a complaint from a “purported whistleblower” alleging “improper revenue recognition” during Q4 2017. Shares of Obalon Therapeutics Inc (NASDAQ:OBLN) declined to as low as $3.52 per share on January 24, 2018.
On February 5, 2018, NASDAQ:OBLN shares closed at $3.96 per share.
Those who purchased shares of Obalon Therapeutics Inc (NASDAQ:OBLN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego