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The lawsuit was exposed by Law.com Radar. Read the complaint here.
Owlet Inc., the maker of smart socks baby health monitors, was hit by a securities class action lawsuit in California's Central District Court on Wednesday. The lawsuit is backed by Glaancy Prongay & Murray, claiming that Owlet's executives went public in July 2021 through a merger with a special purpose acquisition company, but failed to disclose that its Smart Sock device may be considered a medical device by the US government. Food and Drug Administration. The lawyer has not yet appeared in court for the defendant. The case is 2:21-cv-09016, Butala v. Owlet, Inc. f/k/a Sandbridge Acquisition Corporation et al.
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