Company Communicating with Securities
Regulators, Legal Advisors and Other Partners to Protect Interests
of Shareholders
PLEASANTON, Calif., Oct. 31,
2024 /PRNewswire/ -- Movano
Health (Nasdaq: MOVE) (the "Company")
announced today that it has opened an investigation to expose
apparent manipulation in trading of the Company's common shares,
following the recent announcement of a shareholder approved reverse
stock split.
"We are committed to transparency and protecting the interests
of our Company and shareholders," said John
Mastrototaro, President and CEO of Movano Health. "It has
come to our attention that several small cap stocks have suffered
similar manipulation in recent weeks following their respective
reverse stock splits, and we are in direct communication with
securities regulators, legal counsel and other interested partners,
as we pursue this issue to the fullest extent necessary."
Additional information regarding the Reverse Stock Split can be
found in the Company's definitive proxy statement for the annual
meeting of stockholders of the Company held on July 9, 2024, which was filed with the U.S.
Securities and Exchange Commission on May
28, 2024, a copy of which is available at
www.sec.gov and on the Company's website.
About Movano Health
Founded in 2018, Movano Inc. (Nasdaq: MOVE) dba Movano Health,
maker of the Evie Ring (www.eviering.com), is developing a suite of
purpose-driven healthcare solutions to bring medical-grade data to
the forefront of wearables. Featuring modern and flexible form
factors, Movano Health's devices offer an innovative approach to
delivering trusted data to both customers and enterprises,
capturing a comprehensive picture of an individual's health data
and uniquely translating it into personalized and intelligent
insights.
Movano Health is developing its proprietary technologies and
wearable medical device solutions to enable the future use of data
as a tool to proactively monitor and manage health outcomes across
a number of patient populations that exist in healthcare. For more
information on Movano Health, visit https://movanohealth.com/.
Forward Looking Statements
This press release contains forward-looking statements
concerning our expectations, anticipations, intentions, beliefs, or
strategies regarding the future. These forward-looking statements
are based on assumptions that we have made as of the date hereof
and are subject to known and unknown risks and uncertainties that
could cause actual results, conditions, and events to differ
materially from those anticipated. Therefore, you should not place
undue reliance on forward-looking statements. Examples of
forward-looking statements include, among others, statements we
make regarding plans with respect to the timing and impact of the
Reverse Stock Split, the commercial launches of the Evie Ring and
EvieMED Ring; our expectations regarding potential commercial
opportunities; planned cost-cutting initiatives; anticipated FDA
clearance decisions with respect to our products; expected future
operating results; product development and features, product
releases, clinical trials and regulatory initiatives; our
strategies, positioning and expectations for future events or
performance. Important factors that could cause actual results to
differ materially from those in the forward-looking statements are
set forth in our most recent Annual Report on Form 10-K and any
subsequent Quarterly Reports on Form 10-Q, and in our other reports
filed with the Securities and Exchange Commission, including under
the caption "Risk Factors." Any forward-looking statement in
this release speaks only as of the date of this release. We
undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.
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SOURCE Movano
