TMCnet News
INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Owlet, Inc. (OWLT) on Behalf of InvestorsLaw Offices of Howard G. Smith announces an investigation on behalf of Owlet, Inc. ("Owlet" or the "Company") (NYSE: OWLT) investors concerning the Company's possible violations of federal securities laws. On October 4, 2021, Owlet revealed that it had received a warning letter from the U.S. Food and Drug Administration ("FDA"), which stated 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 ses 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 this news, the Company's stock price fell as much as 23% during intraday trading on October 4, 2021, thereby injuring investors. If you purchased Owlet securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211004005921/en/ |
