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Owlet, Inc. Investors: Last Days to Participate Actively in the Class Action Lawsuit; Portnoy Law Firm

Portnoy Law
·2-min read

Investors with losses are encouraged to contact the firm before January 16, 2022; click here to submit trade information

​LOS ANGELES, Dec. 03, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Owlet, Inc. (NYSE: OWLT) investors that acquired shares between March 31, 2021 and October 4, 2021. Investors have until January 16, 2022 to seek an active role in this litigation.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

Owlet revealed on October 4, 2021 that it had received a warning letter from the U.S. Food and Drug Administration (“FDA”), stating that “the Company’s marketing of its Owlet Smart Sock product . . . renders [it] a medical device requiring premarket clearance or approval from FDA.” Owlet has not obtained such clearance or approval. Moreover, the FDA “requests the Company cease commercial distribution of the Smart Sock for uses in measuring blood oxygen saturation and pulse rate where such metrics are intended to identify or diagnose desaturation and bradycardia using an alarm functionality to notify users that measurements are outside of preset values.” On October 4, 2021, Owlet stock price fell as much as 23% during intraday trading on this news, thereby injuring investors.

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A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 16, 2022.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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