Los Angeles, CA - 
(NewMediaWire) - October 4, 2021 - The Schall Law Firm, a national shareholder rights litigation firm,
announces that it is investigating claims on behalf of investors of Eargo,
Inc. (“Eargo” or “the Company”) (NASDAQ: EAR) 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. Eargo disclosed on September 22, 2021, that “it is the
target of a criminal investigation by the U.S. Department of Justice (the
‘DOJ’) related to insurance reimbursement claims the Company has submitted on
behalf of its customers covered by federal employee health plans.” The Company
admitted that “as previously disclosed, the Company has been the subject of an
ongoing claims audit by an insurance company that is the Company’s largest
third-party payor. The Company has been informed by the insurance company that
the DOJ is now the principal contact related to the subject matter of the
audit.” Eargo also added that it “is withdrawing its financial guidance for the
fiscal year ending December 31, 2021.” Based on this news, shares of Eargo
crashed by more than 68% in intraday trading on September 23, 2021.
If you are a shareholder who
suffered a loss, click here to
participate.
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.
This press release may be
considered Attorney Advertising in some jurisdictions under the applicable law
and rules of ethics.
CONTACT:
The Schall
Law Firm
Brian Schall, Esq.
310-301-3335
