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PRNewswire 26-May-2023 10:50 PM
NEW ORLEANS, May 26, 2023 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 24, 2023 to file lead plaintiff applications in a securities class action lawsuit against Cutera, Inc. (NASDAQ:CUTR), if they purchased the Company's shares between February 17, 2021 and May 9, 2023, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Cutera and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-cutr/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 24, 2023.
About the Lawsuit
Cutera and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 12, 2023, the Company disclosed that the Board had terminated both its Chief Executive Officer and its Executive Chairman and Chairman of the Board, both "with cause" and that it was "withdrawing its full-year 2023 outlook." On this news, shares of Cutera fell $7.63 per share, or more than 28%, from a close of $27.07 per share on April 11, 2023 to close at $19.44 per share on April 12, 2023.
Then, on May 9, 2023, the Company disclosed disappointing financial results for 1Q2023 that were "below expectations due to execution challenges in the business," and also announced the resignation of its Chief Financial Officer. On this news, shares of Cutera fell $6.06 per share over two trading sessions, or 30%, from a close of $20.20 per share on May 9, 2023, to close at $14.14 per share on May 11, 2023.
The case is Erie County Employees' Retirement System v. Cutera, Inc., et al., No. 23-cv-02560.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit http://ksfcounsel.com/.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 960
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC