Rigrodsky & Long, P.A. announces that it has commenced an investigation of ZELTIQ Aesthetics, Inc. (“ZELTIQ” or the “Company”) (NASDAQ: ZLTQ) on behalf of all purchasers of the securities of the Company’s common stock between October 24, 2011 and March 5, 2012, inclusive (the “Relevant Period”), for possible violations of the federal securities laws by the Company and certain of its officers.
ZELTIQ, a Delaware corporation based in Pleasanton, California, is a medical technology company that develops and commercializes non-invasive products for the reduction of fat, primarily its proprietary controlled-cooling technology platform, “CoolSculpting.” ZELTIQ engaged in an initial public offering in October 2011 in which the Company raised $89.3 million. Rigrodsky & Long, P.A. is investigating allegations that throughout the Relevant Period, certain officers of the company issued materially false and misleading statements concerning delayed sales at ZELTIQ and failed to disclose adverse information concerning increased competition.
On March 6, 2012, ZELTIQ announced fourth quarter 2011 sales and profits substantially below analysts’ estimates, reporting a loss of $0.22 per share. The Company also estimated 2012 sales of approximately $90 million to $94 million, significantly below analysts’ estimates of $114 million. On this news, the price of ZELTIQ’s common stock fell approximately 47%, from a close of $11.11 per share on March 5, 2012 to close at $5.56 per share on March 8, 2012.
If you purchased ZELTIQ common stock during the Relevant Period and wish to discuss this investigation, or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Scott J. Farrell, Esquire of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/zeltiq-aesthetics-inc-zltq.Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.
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