NEW YORK, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP is investigating whether Owlet, Inc. ("OWLT or the "Company") (NYSE: OWLT) complied with federal securities laws.
On October 4, 2021, the Company disclosed through an SEC filing that it received a warning letter from the FDA. The FDA's letter informed Owlet that the Company's marketing for its Owlet Smart Sock in the United States "renders the Smart Sock a medical device requiring premarket clearance or approval from FDA, and that the Company has not obtained such clearance or approval in violation of the Federal, Food, Drug, and Cosmetic Act." The FDA has requested that the Company take "prompt action" to remedy the alleged violations.
On this report, the price of the Company's stock declined over 33% intraday.
If you purchased Owlet, Inc. shares and suffered losses, please call Gregory Stone at (800) 575-0735 or (212) 545-4774, email gstone@whafh.com or submit this form:
PLEASE CLICK HERE TO CONTACT THE FIRM
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this investigation or have any questions regarding your rights and interests in this matter, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Kevin Cooper, Esq.
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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