Robbins Umeda LLP Announces an Investigation of ZELTIQ Aesthetics, Inc.
Robbins Umeda LLP announces an investigation into ZELTIQ Aesthetics, Inc. (NASDAQ: ZLTQ). Concerned shareholders who would like more information about their rights and potential remedies can complete the form below and we will contact you directly. You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.
Robbins Umeda LLP is investigating whether officers or directors at ZELTIQ issued materially false and misleading statements to investors that were designed to deceive the market and artificially inflate the company’s stock price. In particular, the firm is examining allegations that senior officials at ZELTIQ misled investors by failing to accurately disclose material information about delayed sales at ZELTIQ and increased competition from a competitor’s Liposonix business.
As a result, on March 6, 2012, shares of ZELTIQ plummeted after the company announced fourth quarter 2011 sales and profits that fell well below analyst estimates. For the quarter, ZELTIQ reported a loss per share of $0.22, while analysts had been expecting a per share loss of only $0.09. In addition, ZELTIQ predicted 2012 sales in the range of $90 million to $94 million, far below analyst expectations of $114 million.
In the days following the emergence of these facts, shares of ZELTIQ lost nearly 47% of its stock value. After closing at $11.11 per share on March 5, 2012, shares of ZELTIQ common stock closed on March 8, 2012 at just $5.66 per share.
Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.