Rockwell Medical Inc
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | Rockwell Medical Inc |
Stock Symbol : | NASDAQ: RMTI |
Class Period Start: | 09/09/2015 |
Class Period End: | 02/29/2016 |
Lead Plaintiff motion: | 05/03/2016 |
Date Filed: | 03/04/2016 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Southern District of New York |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the May 3, 2016 lead plaintiff deadline in a class action lawsuit filed against Rockwell Medical Inc (NASDAQ: RMTI) (“Rockwell” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Rockwell Medical Inc securities between September 9, 2015 and February 29, 2016, have until May 3, 2016 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased Rockwell Medical Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Rockwell’s main product offering for Triferic will be in a powder packet packaging, which the FDA has not yet approved; Rockwell is seeking to obtain transitional add-on payment reimbursement for Triferic with the Centers for Medicare & Medicaid Services instead of bundled reimbursement; and as a result, the Company's statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. On September 9, 2015, Rockwell Medical Inc disclosed the U.S. commercial launch of Triferic, a FDA approved iron product designed to replace iron and preserve hemoglobin in hemodialysis patients in the United States. On February 29, 2016, Rockwell Medical's Chief Financial Officer Tom Klema disclosed to investors on a conference call that sales of Triferic were “immaterial” for 2015. Following this news, NASDAQ: RMTI shares declined 37.5% during intraday trading on March 1, 2016. If you were negatively impacted by your investment in Rockwell Medical Inc securities between September 9, 2015 and February 29, 2016 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185
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