Investor Alert: Kaplan Fox Announces Investigation Of Obalon Therapeutics, Inc.

NEW YORK, Jan. 24, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Obalon Therapeutics, Inc. ("Obalon" or the "Company") (NASDAQ: OBLN).  Investors who purchased Obalon common stock may be affected.

On January 23, 2018, Obalon announced the cancellation of its previously announced public stock offering after "a purported whistleblower contacted KPMG LLP, the Company's independent auditors, to make certain allegations relating to allegedly improper revenue recognition during the Company's fourth fiscal quarter of 2017. . . ."  The Company also announced that Obalon's Audit Committee will oversee an internal investigation of these allegations. 

Following this news, Obalon's common stock price declined by $1.73 per share, about 33%, to close at $3.46 per share on January 23, 2018.

If you are an investor in Obalon and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: dhall@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

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SOURCE Kaplan Fox & Kilsheimer LLP