An investigation on behalf of investors of Penumbra, Inc. (NYSE: PEN) shares over potential securities laws violations by Penumbra, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Penumbra, Inc. (NYSE: PEN) concerning whether a series of statements by Penumbra, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Alameda, CA based Penumbra, Inc. designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. Penumbra, Inc. reported that its annual Total Revenue rose from $444.93 million in 2018 to $547.4 million in 2019, and that its EBIT increased from $29.98 million in 2018 to $47.5 million in 2019.


On November 10, 2020, Quintessential Capital Management issued a research report on the Company entitled Penumbra and its Killer Catheter: A tale of corporate greed and seemingly blatant disregard for patients lives[.]

On December 8, 2020, Quintessential Capital Management released a follow-up research report entitled Is Penumbras core scientific research authored by a fake person?: The incredible story of Penumbras Dr. Antik Bose[.] The follow-up report alleged that some of Penumbras scientific research pieces appear to have been incorrectly attributed or even authored by a fake individual.

Shares of Penumbra, Inc. (NYSE: PEN) declined from $273.94 per share on November 12, 2020, to $182.62 per share on December 8, 2020.