Eargo plunges after revealing DoJ investigation, withdraws outlook

Eargo

22/09/2021 21:34

** Shares of hearing aid maker  EAR.O  drop 39% to $13.48 in
extended trading 
    ** Co says was informed on Tuesday it is target of criminal
investigation by the Department of Justice
    ** Says investigation related to insurance reimbursement
claims EAR submitted on behalf of customers covered by federal
employee health plans
    ** Co also withdraws financial guidance for the fiscal year
ending December 31
    ** YTD, stock has plummeted nearly 52%

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))