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BOSTON, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Block & Leviton announces that a class action lawsuit has been filed against Owlet, Inc. (NYSE: OWLT) for potential securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/owlt.
What is this all about?
On October 4, 2021, Owlet Inc. announced that it had received a warning letter from the FDA asserting that Owlet’s marketing of its Smart Sock product in the US renders the product a medical device requiring premarket clearance or approval from the FDA. Owlet has not obtained such clearance or approval.
Owlet Inc went public via a deSPAC transaction with blank check company Sandbridge Acquisition Corporation in July 2021.
On this news, shares of Owlet stock fell over 20%.
Who is eligible?
Anyone who purchased Owlet, Inc. stock between March 31, 2021 and October 4, 2021 is potentially eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What should you do next?
The deadline to seek appointment as lead plaintiff is January 18, 2022. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email email@example.com with any questions.
This notice may constitute attorney advertising.
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
SOURCE: Block & Leviton LLP