On January 9, 2023, in reporting its preliminary financial results for full-year 2022, Cutera reported that it had failed to meet its revenue guidance for 2022. On this news, the price of Cutera common stock declined $9.41 per share, or more than 23%, to close at $31.04 per share on January 9, 2023.

On February 28, 2023, Cutera filed a Notification of Late Filing with the SEC and reported that it “ha[d] identified and expect[ed] to disclose in the Form 10-K material weaknesses in its internal control over financial reporting related to . . . ineffective inventory count controls.”

On March 16, 2023, Cutera announced that it would not meet the extended deadline for filing its 2022 annual report. The Company also revealed that, in addition to the previously identified material weaknesses, Cutera had identified a material weaknesses related to stock-based compensation. On this news, the price of Cutera common stock declined $3.49 per share, or approximately 12.5%, to close at $24.36 per share on March 17, 2023.

On April 7, 2023, Cutera disclosed that the company’s Executive Chairman had demanded a special meeting of the shareholders to vote on the removal of five members of the Board.

On April 10, 2023, both the Chairman and the CEO issued statements in support of their separate demands calling for the Board to remove five of its directors for a failure to develop a succession plan for the CEO. The Chair and CEO asserted that these five directors were attempting to position another director for the CEO role.

On April 12, 2023, Cutera revealed that it had terminated the Chairman and the CEO, and further, it formally withdrew its full-year 2023 financial guidance. On this news, the price of Cutera common stock declined $7.63 per share, or more than 28%, to close at $19.44 per share on April 12, 2023.

Finally, on May 9, 2023, Cutera reported disappointing financial results for the first quarter 2023 due to “execution challenges,” and further reported the resignation of the CFO. On this news, the price of Cutera common stock declined $6.06 per share over two trading sessions, or 30%, to close at $14.14 per share on May 11, 2023.

Investors who purchased or acquired Cutera securities between February 17, 2021 and May 9, 2023, may no later than July 24, 2023, seek to be appointed as a lead plaintiff representative of the class.