NEW YORK, June 24, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Outset Medical, Inc. (NASDAQ: OM), TrueBlue, Inc. (NYSE: TBI), Gap, Inc. (NYSE: GPS), and NeoGenomics, Inc. (NASDAQ: NEO). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Outset Medical, Inc. (NASDAQ: OM)
Outset provided guidance for the second quarter of 2022 as part of a June 13, 2022 press release. The Company announced that it had “implemented a shipment hold on the distribution of its Tablo Hemodialysis System for home use pending the Food and Drug Administration’s (“FDA”) review and clearance of a 510(k) the Company submitted for changes made since the device’s original March 2020 clearance.”
Based on this news, shares of Outset fell by more than 34% on June 14, 2022.
For more information on the Outset Medical investigation go to: https://bespc.com/cases/OM
TrueBlue, Inc. (NYSE: TBI)
TrueBlue issued a press release during trading hours on June 15, 2022 “announc[ing]… that Patrick Beharelle has resigned as Chief Executive Officer and as a member o the Board of Directors of TrueBlue, effective June 14, 2022.” The Company stated that “Mr. Beharelle’s resignation follows an investigation, led by outside counsel, into allegations regarding his conduct. Based on the investigation’s findings, the Board of Directors determined that he engaged in behaviors that violated TrueBlue’s policies and Code of Conduct. Mr. Beharelle’s conduct in question was not related to financial controls, financial statements, or business performance.”
On this news, TrueBlue’s stock price fell $1.06 per share, or 5%, to close at $18.55 per share on June 15, 2022.
For more information on the TrueBlue investigation go to: https://bespc.com/cases/TBI
Gap, Inc. (NYSE: GPS)
On May 20, 2022, during trading hours, The Wall Street Journal published an article entitled “Old Navy Made Clothing Sizes for Everyone. It Backfired. The clothing brand’s push for inclusivity left it with a shortage of middle sizes. ‘It’s super-frustrating.’” The article stated that “Old Navy set out to make clothes shopping more inclusive for women of all body types. It ended up with too many extra-small and extra-large items and too few of the rest, a mismatch that frustrated customers and contributed to falling sales and a management shake-up.” Further, the article stated that “Gap warned that sales for the spring quarter would fall short of expectations in part due to troubles at Old Navy[,]” but that “[t]he extended sizes were the culprit, according to current and former employees.” Finally, the article stated that “Old Navy’s stumbles don’t bode well for Gap Inc. In 2021, Old Navy accounted for 54% of the company’s sales and roughly 80% of profits[.]”
On this news, Gap Inc.’s stock fell $0.60 per share, or 5.5%, to close at $10.33 on May 23, 2022, the next full trading day.
For more information on the Gap investigation go to: https://bespc.com/cases/GPS
NeoGenomics, Inc. (NASDAQ: NEO)
NeoGenomics specializes in cancer genetics testing and information services and aims to provide comprehensive oncology-focused testing menus in the world for physicians to help them diagnose and treat cancer.
On Monday, March 28, 2022, NeoGenomics’ Chief Executive Mark Mallon stepped down as the health-testing company revealed that first-quarter financials will miss guidance and rescinded its forecast for the full year.
On this news, the price of NeoGenomics shares declined by $5.30 per share, or approximately 29.8%, from $17.79 per share to close at $12.49 per share on March 29, 2022.
For more information on the NeoGenomics investigation go to: https://bespc.com/cases/NEO
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
