Bragar Eagle & Squire, PC examines facility,

Bragar Eagle & Squire, PC examines facility,


NEW YORK, Oct. 26, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Establishment Labs Holdings Inc. (NASDAQ:ESTA), FIGURES, Inc. (NYSE:FIG) and Accelerate Diagnostics , Inc. (NASDAQ: AXDX). Our investigations address whether these companies have violated federal securities laws and/or engaged in other illegal business practices. For more information on each case, see the link provided.

Foundation Labs Holdings Inc. (NASDAQ:ESTA)

On October 19, 2022, market analyst Hindenburg Research published a report titled “Establishment Labs: A Financially Stretched Silicone Safety Charade,” which claimed, among other things, that “[d]Despite claims of superior safety, we have found that almost all of the major safety studies touted by the company have conflicts of interest, many of which are under-disclosed or under-disclosed.” The report goes on to say that “the company claims successful to have tested a ‘revolutionary’ technique for placing implants through the armpit under local anesthesia (instead of general anesthesia) and claims the technique will significantly expand its Total Addressable Market (TAM). This type of insertion has been described since the 1970s and has been widespread for almost 20 years. It has not caught on due to security risks.”

The report also claimed that “[b]In addition to undisclosed security issues, we have also identified financial risks. Import/export records show that the company supplies products to companies formerly owned by the CEO and his family, raising conflicts of interest.”

As a result of this news, the share price fell by 17% when the market opened on October 19, 2022.

For more on the Establishment Inquiry, see:


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