Levi & Korsinsky, LLP announces that an OWLT class action lawsuit has been filed on behalf of investors who purchased Owlet, Inc. f/k/a Sandbridge Acquisition Corporation (OWLT) securities between March 31, 2021, and October 4, 2021. For more on the OWLT Lawsuit please contact us today.
According to the Owlet, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Owlet was reasonably likely to be required to obtain marketing authorization for the Smart Sock because the Food and Drug Administration concluded it was a medical device; (2) as a result, Owlet was reasonably likely to cease commercial distribution of the Smart Sock in the U.S. until it obtained the requisite approval; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Owlet, Inc. you have until January 18, 2022, 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.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171