An investigation on behalf of current long term investors in Owlet, Inc. (NASDAQ:OWLT) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA — (SBWIRE) — 03/22/2022 — Certain directors of Owlet, Inc. are under investigation concerning potential breaches of fiduciary duties.
Investors who are investors in Owlet, Inc. (NASDAQ: OWLT) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm for investors in NASDAQ: OWLT stocks follows a lawsuit filed against Owlet, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: OWLT stocks, concerns whether certain Owlet directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Defendants failed to disclose to investors that Owlet was reasonably likely to be required to obtain marketing authorization for the Smart Sock because the FDA concluded it was a medical device, that, as a result, Owlet was reasonably likely to cease commercial distribution of the Smart Sock in the U.S. until it obtained the requisite approval, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Owlet, Inc. (NASDAQ: OWLT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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