Chung
Chung v. Eargo, Inc.
Opinion
Trial Court Opinion
IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA
Case No. 21-cv-8597-CRB
IN RE EARGO, INC. SECURITIES
LITIGATION
ORDER GRANTING MOTION TO
DISMISS THE AMENDED
This document relates to all consolidated COMPLAINT cases. Re: Dkt. 111
13 Earlier this year, the Court dismissed the Plaintiffs’ securities case because the consolidated complaint failed to plead with particularity certain facts establishing contemporaneous false statements or scienter. See In re Eargo, Inc. Sec. Litig., 2023 WL 1997918 (N.D. Cal. Feb. 14, 2023) (dkt. 103). In this case, the Plaintiffs allege that Eargo, Inc., an online direct-to-consumer hearing aid company, its corporate executives, directors, and IPO underwriters falsely or misleadingly inflated Eargo’s revenue and growth opportunities because the company’s business model was incompatible with the requirements for federal insurance reimbursement. The Plaintiffs also claim that Eargo falsely or misleadingly downplayed an insurance audit,…