Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Rockwell Medical, Inc. (RMTI)
LOS ANGELES--(BUSINESS WIRE)--Sep 24, 2018--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the September 25, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Rockwell Medical, Inc. (“Rockwell” or the “Company”) (NASDAQ: RMTI ) securities between November 8, 2017, and June 26, 2018, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to participate.
On June 27, 2018, Rockwell disclosed that its auditor resigned, and that the auditor claimed, among other things, that the estimated reserves in Rockwell’s Form 10-Q for the period ended March 31, 2018 were incorrect.
On this news, Rockwell’s share price fell $0.85, or more than 16%, to close at $4.41 on June 28, 2018, thereby injuring investors.
The Complaint filed in this class action alleges that the Company made false and misleading statements to the market. Specifically, the complaint alleges that 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; the Company suffered from material weakness in controls for financial reporting; and that 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.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares Rockwell during the Class Period you may move the Court no later than September 25, 2018 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180924006060/en/
CONTACT: Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
Copyright Business Wire 2018.
PUB: 09/24/2018 06:46 PM/DISC: 09/24/2018 06:46 PM