LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Owlet, Inc. (“Owlet” or “the Company”) (NYSE: OWLT) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Owlet disclosed on October 4, 2021, that it received a warning letter from the FDA regarding its Owlet Smart Sock product. According to the FDA, the Company failed to obtain authorization or consent from the agency to market the Smart Sock to the public, which the FDA considers to be a medical device. Based on this news, shares of Owlet tumbled by more than 20% in intraday trading on the same day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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