San Diego, CA -- (SBWIRE) -- 02/05/2024 -- Envoy Medical, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Envoy Medical, Inc. (NASDAQ: COCH), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Envoy Medical, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

White Bear Lake, MN based Envoy Medical, Inc., a hearing health company, provides medical technologies for the hearing loss spectrum. On December 19, 2023, Envoy Medical, Inc. disclosed in a filing with the U.S. Securities and Exchange Commission that "[o]n December 14, 2023, the audit committee (the 'Audit Committee') of the board of directors of Envoy...concluded that the Company's previously issued unaudited interim financial statements included in the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 (the 'Previous Financial Statements' and such period, the 'Affected Period'), should no longer be relied upon."
Envoy Medical, Inc. stated that "[t]he determination relates to the Company's interpretation of the accounting guidance applicable to the forward purchase agreement, dated April 17, 2023, by and among the Company, Envoy Medical Corporation, Meteora Special Opportunity Fund I, LP, Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP and Meteora Strategic Capital, LLC (as amended to date, the 'FPA'). The Company expects to restate the accounting treatment of the FPA for the Affected Period to reclassify the prepayment amount [.]" Envoy further stated "that the error above is consistent with the Company's existing material weaknesses in internal control over financial reporting as of September 30, 2023, as previously disclosed in the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023."

Shares of Envoy Medical, Inc. (NASDAQ: COCH) declined to as low as $1.53 per share on December 27, 2023.

Those who purchased shares of Envoy Medical, Inc. (NASDAQ: COCH) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.