ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Rockwell Medical, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
Sep. 05, 2018
LOS ANGELES--(BUSINESS WIRE)--Sep 5, 2018--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Rockwell Medical, Inc. (“Rockwell Medical” or “the Company”) (NASDAQ: RMTI ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Rockwell Medical had knowledge that the Centers for Medicare and Medicaid Services would not pursue the Company’s plan for reimbursement for Triferic. The Company’s estimated reserves on form 10-Q for the quarter ending March 31, 2018, were misstated. Rockwell Medical suffered from material weakness in controls for financial reporting. Robert L. Chioini, Rockwell’s former Chief Executive Officer, failed to inform the Company’s auditors, corporate counsel, and independent board members with important information about Triferic. Based on these facts, the Company’s public statements about business operations, prospects, and results were false and materially misleading.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20180905005587/en/
CONTACT: The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: The Schall Law Firm
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PUB: 09/05/2018 09:44 AM/DISC: 09/05/2018 09:44 AM