Owlet Inc., maker of the Smart Sock baby health monitor, was hit with a securities class action Wednesday in California Central District Court. The suit, backed by Glancy Prongay & Murray, alleges that executives of Owlet, which went public in July 2021 by merging with a special purpose acquisition company, failed to disclose that its Smart Sock device was likely to be treated as a medical device by the Food and Drug Administration. Counsel have not yet appeared for the defendants. The case is 2:21-cv-09016, Butala v. Owlet, Inc. f/k/a Sandbridge Acquisition Corporation et al.
Retail & Consumer Goods
November 17, 2021, 5:47 PM