RTTNews | Sep 23, 2021 10:05AM EDT

10:05 Thursday, September 23, 2021 (RTTNews.com) - Eargo, Inc. (EAR) shares are plunging on Thursday morning trade after the company disclosed Wednesday that it is the target of an investigation by the U.S. Department of Justice related to insurance reimbursement claims submitted on behalf of its customers under federal employee health plans. Consequent to this the San Jose, California-based hearing aid manufacturer has withdrawn financial guidance for the fiscal year ending December 31.

Currently, shares are at $6.67, down 69.27 percent from the previous close of $21.67 on a volume of 15,079,650. For the 52-week period, the shares have traded in a range of $6.48-$76.75 on average volume of 543,170.

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