Block & Leviton LLP Investigates Obalon Therapeutics (OBLN) Following Allegations Of Improper Accounting Practices And Encourages Shareholders To Contact The Firm

BOSTON, Jan. 23, 2018 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether Obalon Therapeutics Inc. ("Obalon" or the "Company") (NASDAQ: OBLN) and certain of its officers and directors violated federal securities laws following claims that the Company is engaged in, among other things, fraudulent accounting practices.

January 23, 2018, Obalon announced that it would cancel a secondary public offering of its stock after the Company's independent auditor, KPMG LLP, received a complaint from a purported whistleblower who alleged "improper revenue recognition during the Company's fourth fiscal quarter of 2017."

On this news, the Company's plunged nearly 30% during intraday trading on January 23, 2017, causing tens of millions in losses to shareholders.

If you purchased or otherwise acquired Obalon securities and have questions about your legal rights or possess information relevant to this investigation, you are encouraged to contact attorney Bradley Vettraino at (617) 398-5600, by email at bradley@blockesq.com, or by visiting www.blockesq.com/obln.

Confidentiality to whistleblowers or others with information relevant to this investigation is assured.

Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 50 years, and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing were recently covered by the New York Times.

This notice may constitute attorney advertising.

CONTACT:

Block & Leviton LLP
Bradley J. Vettraino
155 Federal Street, Suite 400
Boston, MA 02110
(617) 398-5600
bradley@blockesq.com

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SOURCE Block & Leviton LLP