Los Angeles, CA - 
(NewMediaWire) - September 29, 2021 - The Schall Law Firm, a
national shareholder rights litigation firm, announces that it is investigating
claims on behalf of investors of Eargo, Inc. (“Eargo”
or “the Company”) (NASDAQ: EAR)
for violations of the securities laws.
The investigation focuses on
whether the Company issued false and/or misleading statements and/or failed to
disclose information pertinent to investors. Eargo disclosed on September 22,
2021, that “it is the target of a criminal investigation by the U.S. Department
of Justice (the ‘DOJ’) related to insurance reimbursement claims the Company
has submitted on behalf of its customers covered by federal employee health
plans.” The Company admitted that “as previously disclosed, the Company has
been the subject of an ongoing claims audit by an insurance company that is the
Company’s largest third-party payor. The Company has been informed by the
insurance company that the DOJ is now the principal contact related to the
subject matter of the audit.” Eargo also added that it “is withdrawing its
financial guidance for the fiscal year ending December 31, 2021.” Based on this
news, shares of Eargo crashed by more than 68% in intraday trading on September
23, 2021.
If you are a shareholder who
suffered a loss, click here to participate.
We also encourage you to contact
Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los
Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You
can also reach us through the firm's website at www.schallfirm.com,
or by email at brian@schallfirm.com.
The class in this case has not
yet been certified, and until certification occurs, you are not represented by
an attorney. If you choose to take no action, you can remain an absent class
member.
The Schall Law Firm represents
investors around the world and specializes in securities class action lawsuits
and shareholder rights litigation.
This press release may be
considered Attorney Advertising in some jurisdictions under the applicable law
and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
