Faruqi & Faruqi, LLP Announces Investigation of Zeltiq
NEW YORK, March 20, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at ZELTIQ Aesthetics, Inc. ("ZELTIQ" or the "Company") (NASDAQ: ZLTQ).
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Faruqi & Faruqi is investigating allegations that ZELTIQ executives misled investors by failing to disclose material information about the delayed sale of Company products and increased competition from a competitor's Liposonix business.
On March 6, 2012, shares of ZELTIQ plummeted after the Company announced fourth quarter 2011 sales and profits that fell well below analyst estimates. ZELTIQ reported a loss per share of $0.22, while analysts had been expecting a per share loss of only $0.09. In addition, ZELTIQ predicted 2012 sales in the range of $90 million to $94 million, well below analyst expectations of $114 million.
In the days following this extremely disappointing news, ZELTIQ's stock price lost nearly 47% of its value falling from $11.11 per share on March 5, 2012, to only $5.66 per share on March 8, 2012.
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Take Action
If you purchased ZELTIQ securities and would like to discuss your legal rights, visit www.faruqilaw.com/ZLTQ. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding ZELTIQ's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Francis McConville, Esq.
fmcconville@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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