March 27, 2012
/PRNewswire/ -- Harwood Feffer LLP (
) is investigating potential claims against the board of directors of ZELTIQ Aesthetics, Inc. ("ZELTIQ" or the "Company") (NASDAQ: ZLTQ), concerning whether the board has breached its fiduciary duties to shareholders.
ZELTIQ went public in
when the Company raised
in its Initial Public Offering ("IPO"). According to its prospectus, ZELTIQ and certain insiders offered approximately 7 million shares of common stock for
per share. Presently, ZELTIQ common stock is trading at less than
March 6, 2012
, ZELTIQ announced fourth quarter 2011 sales and profits substantially below analysts' estimates, reporting a loss of
per share. The Company also estimated 2012 sales of approximately
$90 million to $94 million
, significantly below analysts' estimates of
. On this news, the price of ZELTIQ's common stock fell approximately 47%, from a close of
per share on
March 5, 2012
to close at
per share on
March 8, 2012
Our investigation concerns whether the ZELTIQ board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own ZELTIQ shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Harwood Feffer LLP488 Madison Avenue
New York, New York
10022Phone Numbers: (877) 935-7400(212) 935-7400Email:
has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (
) for more information about the firm.
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). Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE Harwood Feffer LLP