A securities class action has been filed in the USDC – N.D.CA. against Cutera, Inc. (CUTR) (“Cutera” or the “Company”) on behalf of investors who purchased or acquired Cutera common stock between February 17, 2021 through May 9, 2023, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than July 24, 2023.
Cutera is a medical aesthetic device company that provides equipment for beauty treatments. Throughout the Class Period, Defendants repeatedly assured investors that the company would deliver sustainable revenue growth in the wake of the COVID-19 pandemic while concealing that the company maintained inadequate internal control over financial reporting and significant conflicts among certain members of the company’s senior leadership and board of directors (the “Board”).
The Complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about Cutera’s business and operations. Specifically, Defendants overstated the sustainability of Cutera’s revenue growth, failed to disclose significant conflicts among members of the company’s senior leadership and Board, and failed to disclose several material weaknesses in Cutera’s internal control over financial reporting.
On May 9, 2023, Cutera reported disappointing financial results for the first quarter 2023 that were “below expectations due to execution challenges in the business” and announced that Defendant Rohan Seth had resigned as the company’s Chief Financial Officer. On this news, the price of Cutera common stock declined $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.
If you purchased Cutera securities during the Class Period and would like to receive more information or join the action, please enter your contact information below and click “Submit Your Information”
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Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
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