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Levi & Korsinsky announces the commencement of a securities action in the Superior Court of the State of Georgia on behalf of shareholders of EndoChoice Holdings, Inc. (NYSE: GI) who purchased shares pursuant and/or traceable to the Company’s Registration Statement issued in connection with the Company’s Initial Public Offering on or about June 5, 2015.
The complaint alleges that documents issued pursuant to the IPO were materially misleading and/or omitted material facts. On June 5, 2015, EndoChoice commenced an initial public offering of 6,350,000 shares of EndoChoice common stock at a price of $15.00 per share. Then on November 5, 2015, EndoChoice announced a decline in Fuse placements in the third quarter; the Company also announced it had entered into a strategic partnership with De Lage Landen Financial Services, Inc. to provide a new financing program for EndoChoice customers in the United States. Following this news, shares of EndoChoice fell more than 22 percent.
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