Obalon (OBLN) Alert: Johnson Fistel Announces Shareholder Class Action Against Obalon Therapeutics Survives Motion to Dismiss; Should Management be Held Accountable for Investors Losses?

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SAN DIEGO, Sept. 28, 2019 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of Obalon Therapeutics, Inc. (NASDAQ: OBLN) ("Obalon" or the "Company") against certain of its officers and directors. 

Specifically, a class action lawsuit pending in the United States District Court for the Southern District of California against Obalon and certain of its officers and directors recently survived, in part, Defendants' attempts to have the case dismissed.  The case arises from certain allegedly materially false and misleading statements regarding the Company's financial condition and adherence to Generally Accepted Accounting Principles. 

If you are a current, long-term shareholder of Obalon, you may have standing to hold Obalon harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing. 

If you are interested in learning more about your legal rights and remedies, please contact Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If you email, please include your phone number.

Additionally, if you are a current, long-term holder of Obalon stock, you can [Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:Johnson Fistel, LLPJim Baker, 619-814-4471  jimb@johnsonfistel.com

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SOURCE Johnson Fistel, LLP

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