An investor in NASDAQ:RMTI shares filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Rockwell Medical Inc.
Investors who purchased shares of Rockwell Medical Inc (NASDAQ:RMTI) have certain options and for certain investors are short and strict deadlines running. Deadline: May 3, 2016. NASDAQ:RMTI investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The plaintiff claims that between September 9, 2015 and February 29, 2016 the defendants issued false and misleading statements to investors and/or failed to disclose thatthe primary product offering for Triferic will be in a powder packet packaging, which the FDA has not yet approved, that Rockwell Medical is seeking to obtain transitional add-on payment reimbursement for Triferic with the Centers for Medicare & Medicaid Services instead of bundled reimbursement, and that as a result, defendants’ statements about Rockwell Medical’s 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 announced the U.S. commercial launch of Triferic, a FDA approved iron product indicated to replace iron and maintain hemoglobin in hemodialysis patients in the United States.
Then on February 29, 2016, Rockwell Medical Inc’s CFO Tom Klema disclosed to investors on a conference call after the market closed that sales of Triferic were “immaterial” for 2015. Shares of Rockwell Medical Inc (NASDAQ:RMTI) declined on March 2, 2016, to as low as $5.80 per share.
On March 15, 2016, NASDAQ:RMTI shares closed at $6.06 per share.
Those who purchased NASDAQ:RMTI shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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