Gibbs Law Group Investigates Potential Securities Law Violations
Shares of Cutera, Inc. (NASDAQ: CUTR) plummeted 28% on April 12, 2023, after the company fired CEO David Mowry and Executive Chairman Daniel Plants for allegedly violating their fiduciary duties as directors. Mowry and Plants responded by filing a lawsuit against Cutera for retaliation. Gibbs Law Group is investigating a potential Cutera Securities Class Action Lawsuit on behalf of investors who lost money in Cutera, Inc.
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
Cutera announced on February 28, 2023, that it would fail to file its 2022 annual report in a timely manner. Then, on Wednesday, April 12, 2023, shares of California-based aesthetics device company tumbled after the immediate terminations of its CEO and Executive Chairman for allegedly violating their fiduciary duties by disclosing "highly confidential internal deliberations of the board," as said in a Cutera statement.
In response to Cutera’s action, Mowry and Plants filed a lawsuit against the “Entrenched Directors” for alleged retaliation. The lawsuit alleges the Entrenched Directors fired Mowry and Plants “to try to preserve their memberships on the Board and advance their roles at the Company, including the appointment today of one of the Entrenched Directors as the Company’s CEO and another as its Chairperson.”
RTW Investments, LP, one of Cutera’s largest shareholders, reported it is “concerned about the events that have transpired at the Company this past week, particularly with respect to the Board's removal of David Mowry as the [CEO].” Additionally, Cutera announced that it is withdrawing its full-year 2023 outlook in connection with recent actions within the company.
Following news of the boardroom personnel changes, Cutera’s stock price plummeted 28% on April 12, 2023, causing significant harm to investors.
What Should Cutera Investors Do?
If you invested in Cutera, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether Cutera has violated federal securities laws by providing false or misleading statements to investors.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.”
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