NEW YORK, June 20, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Intersect ENT, Inc. ("Intersect" or the "Company") (NASDAQ: XENT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Intersect and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 1, 2018, before the market opened, Intersect disclosed that it faced certain challenges relating to the launch of its SINUVA sinus implant product, which had negatively impacted the Company's second quarter 2018 financial results.
On this news, Intersect's stock price fell $6.30 per share, or roughly 19.5%, to close at $26.05 per share on August 1, 2018.
Then, on May 6, 2019, Intersect disclosed a first quarter 2019 loss of $10.8 million and lowered guidance for the remainder of 2019. Intersect also reported the resignation of Lisa D. Earnhardt, the Company's Chief Executive Officer for 11 years.
On this news, Intersect's stock price fell $8.05 per share, or roughly 24.3%, to close at $25.10 per share on May 7, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP