Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) Under Investor Investigation Over Possible Securities Laws Violations In Connection With Certain Statements

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Company Name(s): 
Zeltiq Aesthetics
Affected Securities: 

San Diego, March 12, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) was announced over potential securities laws violations by certain officers and directors at Zeltiq Aesthetics Inc in connection with potentially false and misleading statements.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) concerning whether certain statements between October 18, 2011 and March 6, 2012, by Zeltiq Aesthetics’ business, its prospects and its operations were materially false and misleading at the time they were made.

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 9, 2012 at $6.70 per share.