NEW YORK, June 24, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Outset Medical, Inc. (NASDAQ: OM ), TrueBlue, Inc. (NYSE: TBI), Gap, Inc. (NYSE: GPS) and NeoGenomics, Inc. (NASDAQ: NEO). Our investigations focus on whether these companies have violated federal securities laws and/or engaged in other illegal business practices. Additional information on each case can be found at the link provided.
Outset Medical, Inc. (NASDAQ:OM)
Outset provided guidance for the second quarter of 2022 in a June 13, 2022 press release. The company announced that it had “implemented a shipping hold on the distribution of its system of Tablo hemodialysis for home use pending Food and Drug Administration (“FDA”) review and clearance of a 510(k) the company submitted for changes made since the original March 2020 clearance of the ‘device. »
Based on this news, Outset shares fell over 34% on June 14, 2022.
For more information on the initial medical investigation, go to: https://bespc.com/cases/OM
TrueBlue, Inc. (NYSE: TBI)
TrueBlue issued a press release during trading hours on June 15, 2022 “announcing[ing]…that Patrick Beharelle has resigned as Chief Executive Officer and member of the board of directors of TrueBlue, effective June 14, 2022.” The Company stated that “Mr. Beharelle’s resignation follows an investigation, conducted by outside counsel, on allegations about his conduct. Based on the findings of the investigation, the Board of Directors determined that he had engaged in behavior that violated TrueBlue’s policies and Code of Conduct. The conduct of Mr. Beharelle in question was unrelated to financial controls, financial statements or corporate performance. »
On this news, TrueBlue’s stock price fell $1.06 per share, or 5%, to close at $18.55 per share on June 15, 2022.
For more information on the TrueBlue investigation, visit: https://bespc.com/cases/TBI
Gap, Inc. (NYSE:GPS)
On May 20, 2022, during trading hours, The the wall street journal published an article titled “Old Navy Made Clothing Sizes for Everyone. It turned against him. The clothing brand’s push for inclusivity has left it with a dearth of midsizes. ‘It’s super frustrating.’ The article stated, “Old Navy is committed to making apparel shopping more inclusive for women of all body types. It ended with too many extra-small and extra-large items and too little of the rest, a mismatch that frustrated customers and contributed to plummeting sales and a reshuffle in management. Additionally, the article stated that “Gap warned that sales for the spring quarter will be lower than expected, in part due to issues at Old Navy.[,]” but this “[t]Extended sizes were the culprit, according to current and former employees. Finally, the article stated that “Old Navy’s stumbles do not bode well for Gap Inc. In 2021, Old Navy accounted for 54% of company sales and about 80% of profits.[.]”
On this news, Gap Inc. stock fell $0.60 per share, or 5.5%, to close at $10.33 on May 23, 2022, the next full trading day.
For more information on the Gap survey, visit: https://bespc.com/cases/GPS
NeoGenomics, Inc. (NASDAQ: NEO)
NeoGenomics specializes in cancer genetic testing and information services and aims to provide comprehensive menus of oncology-focused tests worldwide for physicians to help them diagnose and treat cancer.
On Monday, March 28, 2022, NeoGenomics chief executive Mark Mallon resigned as the health testing company revealed that first-quarter financial results would lack guidance and canceled its full-year guidance.
On this news, NeoGenomics stock price fell $5.30 per share, or approximately 29.8%, from $17.79 per share to close at $12.49 per share on March 29, 2022.
For more information on the NeoGenomics survey, visit: https://bespc.com/cases/NEO
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation before state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.
Bragar Eagel & Squire, CP
Brandon Walker, Esq.
Melissa Fortunato, Esq.