HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Cutera (CUTR) Investors to July … – Press Release

SAN FRANCISCO, July 15, 2023 (GLOBE NEWSWIRE) — Hagens Berman urges Cutera, Inc. CUTR investors who suffered $100k losses or more to submit your losses now.

Class Period: Feb. 17, 2021 – May 9, 2023
Lead Plaintiff Deadline: July 24, 2023
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Contact An Attorney Now: CUTR@hbsslaw.com
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Cutera, Inc. (CUTR) Securities Fraud Class Action:

The litigation focuses on Cutera’s past assurances that it “is well-positioned to accelerate growth and expand profitability as the impact of COVID-19 continues to wane” and that its internal control over financial reporting is effective.

The complaint alleges Defendants: (1) overstated the sustainability of Cutera’s revenue growth; (2) failed to disclose serious conflicts among the company’s senior management and its board of directors; and (3) failed to disclose several serious weaknesses in the company’s internal control over financial reporting.

Investors learned the truth through a series of partial corrective disclosures.

Beginning on Jan. 9, 2023, Cutera announced that its preliminary FY 2022 financial results failed to meet its revenue guidance for that year and significantly reduced revenue guidance given two months earlier.

Next, on Feb. 28, 2023, Cutera reported that it would not timely file its FY 2022 financial results and revealed that it expected to admit to material weaknesses in its internal control over financial reporting related to inventory count controls.

Then, on Mar. 16, 2023, Cutera reported it still could not meet the deadline for filing its FY 2022 financial results and explained that, in addition to the inventory count control weaknesses, the company identified weaknesses related to stock-based compensation.

Then, on Apr. 12, 2023, Cutera announced it fired its Executive Chairman (J. Daniel Plants) and fired its CEO (David H. Mowry), both effective immediately and “with cause” after…

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