Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) Investor Files Class Action Lawsuit Over Alleged Securities Laws Violations

If you purchased shares of Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) pursuant and or traceable Zeltiq Aesthetics’ initial public offering in October 2011, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Zeltiq Aesthetics
Case Name: 
Zeltiq Aesthetics Shareholder Class Action Lawsuit 03/16/2012
Affected Securities
NASDAQ: ZLTQ
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
03/16/2012
Class Period Begin: 
10/24/2011
Summary: 

San Diego, March 19, 2012 (Shareholders Foundation) -- An investor in NASDAQ:ZLTQ filed a lawsuit against Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) over alleged violations of Federal Securities Laws by certain Statements made in its IPO.

According to the complaint the plaintiff alleges that defendants violated the Securities Exchange Act of 1933 by allegedly making false and misleading statements in the registration statement and prospectus for its IPO.

Zeltiq Aesthetics Inc went public in October 2011, which raised $89.3 million, at $13 a share

Zeltiq Aesthetics Inc reported that its annual Revenue rose from $1.59million in 2009 to $25.46million in 2010 and that its Net Loss decreased from $17.64million in 2009 to $13.53million in 2010. Furthermore Zeltiq Aesthetics Inc reported that its third quarter Revenue rose from $6.62million in 2010 to $17.72million in 2011 and its third quarter Net Loss decreased from $8.50million in 2010 to $2.85million in 2011.

Shares of Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) rose in November 2011 to $17 per share and traded for the most part of the first two months in 2012 over $10 per share.

Then on March 6, 2012 ZELTIQ Aesthetics, Inc. announced its financial results for the quarter and year ended December 31, 2011 and provided its guidance for 2012. Among other things, ZELTIQ Aesthetics issued its Fiscal Year 2012 Revenue guidance, which is below Analysts' Estimates

Following the announcement shares of Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) dropped from $11.11 on March 5, 2012 to as low as $5.64 on March 8, 2012 and closed on Friday, March 16, 2012 at $6.65 per share.