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Stock impact report

OWLET INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Owlet, Inc. - OWLT

Owlet, Inc. Class A (OWLT) 
Company Research Source: Business Wire
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Owlet, Inc. f/k/a Sandbridge Acquisition Corporation (NYSE: OWLT).On October 4, 2021, the Company disclosed the receipt of a warning letter from the U.S. Food and Drug Administration (“FDA”) stating that “the Company’s marketing of its Owlet Smart Sock product . . . renders [it] a medical device requiring premarket clearance or approval from FDA,” which requirement the Company had not obtained, and also requesting that “the Company cease commercial distribution of the Smart Sock for uses in measuring blood oxygen saturation and pulse rate where such metrics are intended to identify or diagnose desaturation and bradycardia using an alarm functionality to notify users that measurements are outside of preset values.”Thereafter, the Company and certain of its executives were s Show less Read more
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