RADNOR, Pa.--(BUSINESS WIRE)--The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of Owlet, Inc. (NYSE: OWLT) (“Owlet”).
Owlet operates as a digital parenting platform in the United States. Owlet’s platform focuses on giving real-time data and insights to parents. Its products include: Owlet Monitor Duo that gets the snapshot of the baby’s wellbeing; Owlet Smart Sock that tracks the baby’s heart rate and oxygen while sleeping and get notifications if the baby needs to be checked on; Owlet Cam, a smart HD video baby monitor; and Dream Lab, an online and personalized infant sleep solution.
On October 4, 2021, Owlet disclosed that it received a Warning Letter from the U.S. Food and Drug Administration (“FDA”). The FDA’s letter informed Owlet that its marketing for its Owlet Smart Sock in the United States “renders the Smart Sock a medical device requiring premarket clearance or approval from FDA, and that [Owlet] has not obtained such clearance or approval in violation of the Federal, Food, Drug, and Cosmetic Act.” The FDA has requested that Owlet take “prompt action” to remedy the alleged violations.
Following this news, Owlet’s shares fell sharply during intraday trading on October 4, 2021, down over 22%.
If you are an Owlet investor, please CLICK HERE to learn more about our investigation. You may also contact attorney James Maro, Esq. (484) 270-1453 or Toll Free at (844) 887-9500 or via e-mail at info@ktmc.com.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
