The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Intersect ENT, Inc. (NASDAQGM: XENT) securities between August 1, 2018 and May 6, 2019.
According to the Intersect lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Intersect lacked adequate reimbursement representatives to ensure physicians had access to SINUVA, Intersect’s sinus implant; (2) Intersect’s sales force would focus on ensuring reimbursement; (3) Intersect’s sales representatives were less focused on driving sales; (4) physicians were less likely to adopt Intersect’s SINUVA due to transaction costs associated with seeking reimbursement; (5) Intersect would increase staffing to address these issues; and (6) as a result of the foregoing, defendants’ positive statements about Intersect’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Intersect you have until July 15, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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