OM ALERT: Berman Tabacco Alerts Investors with Losses in Excess of $50,000 of Deadline for Seeking Appointment as Lead Plaintiff in Outset Medical, Inc. Securities Class Action

Boston, Massachusetts--(Newsfile Corp. - July 15, 2022) - Berman Tabacco, a national law firm representing investors, is investigating potential securities law violations by Outset Medical, Inc. ("Outset Medical" or the "Company") (NASDAQ: OM). Outset Medical is a medical technology company based on San Francisco, California, focused on kidney dialysis, the primary treatment for acute and chronic kidney failure.

About the Securities Class Action Filed

On July 8, 2022, a securities fraud class action lawsuit was filed in the United States District Court for the Northern District of California against Outset Medical and certain of its executive officers. The Class Action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 ("Exchange Act") on behalf of all persons or entities that purchased Outset Medical common stock between September 15, 2020 and June 13, 2022, inclusive ("Class Period"), and were damaged thereby.

The class action alleges that "[t]hroughout the Class Period, Outset Medical touted that [its Tablo Hemodialysis System ('Tablo')] can 'serve as a dialysis clinic on wheels' that had been 'cleared by the [U.S.] Food and Drug Administration [(the 'FDA')] for use in the hospital, clinic or home setting.'" The class action asserts that, "Defendants misled investors and/or failed to disclose that: (1) Defendants had 'continuously made improvements and updates to Tablo over time since its original clearance' that required an additional 510(k) application; (2) as a result, the Company could not conduct a human factors study on a cleared device in accordance with FDA protocols; (3) the Company's inability to conduct the human factors study subjected the Company to the likelihood of the FDA imposing a 'shipment hold' and marketing suspension, leaving the Company unable to sell Tablo for home use; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and /or lacked a reasonable basis at all relevant times."

How to Seek Appointment as Lead Plaintiff

If you wish to serve as Lead Plaintiff for the Class, you must file a motion to serve as Lead Plaintiff with the Court no later than September 6, 2022. Any member of the proposed Class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class. An investor's ability to share in any potential future recovery is not dependent upon serving as Lead Plaintiff.

If you sustained losses in excess of $50,000 from your transactions in Outset securities during the Class Period and are interested in learning more about serving as Lead Plaintiff, please provide your information here: Shareholder Contact | Berman Tabacco.

A Lead Plaintiff is appointed by the court to represent the members of the putative class in the lawsuit. Typically, the Lead Plaintiff is the applicant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.

Berman Tabacco typically represents individuals and entities in class actions on a contingency fee basis, meaning we advance all attorneys' fees and expenses in the litigation. If the case is successful, the firm will ask the court to award the firm attorneys' fees and the reimbursement of expenses from any settlement fund. If we are not successful, you will not be responsible for the reimbursement of attorneys' fees or expenses.

About Berman Tabacco

Berman Tabacco is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by corporate and board misconduct and violations of the securities and antitrust laws. The firm has offices in Boston, Massachusetts and San Francisco, California.

This notice may constitute attorney advertising.

Contact:

Berman Tabacco
Jay Eng, Esq.
One Liberty Square
Boston, Massachusetts
(800) 516-9926
Email: law@bermantabacco.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131000