PR Newswire
NEW YORK, Dec. 10, 2023
NEW YORK, Dec. 10, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of InMode Ltd. ("InMode" or the "Company") (NASDAQ: INMD). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether InMode and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 6, 2023, InMode issued a press release "announc[ing] . . . that it is revising its full-year 2023 guidance", citing "stronger-than-expected headwinds from the current macroeconomic environment, resulting in a slowdown in platform sales, mainly in North America." Specifically, InMode stated that it expects "Revenue for the full year 2023 to be in the range of $485 million to $495 million, as compared to the prior estimated range of $500 million to $510 million"; "Non-GAAP gross margin for the third quarter of 2023 to remain in the range of 83% to 85%"; "Non-GAAP income from operations to be in the range of $214 million to $218 million, as compared to the prior estimated range of $220 million to $225 million"; and "Non-GAAP earnings per diluted share for the full year 2023 to be in the range of $2.47 to $2.50, as compared to the prior estimated range of $2.53 to $2.57."
On this news, InMode's stock price fell sharply during intraday trading on December 6, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
