Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Rockwell Medical, Inc. To Contact The Firm Before Lead Plaintiff Deadline
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Rockwell Medical, Inc. (“Rockwell” or the “Company”) (NASDAQ:RMTI) of the May 3, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Rockwell stock and options between September 9, 2015 and February 29, 2016 (the “Class Period”). The case, Schokman v. Rockwell Medical, Inc. et al, No. 1:16-cv-01691 was filed on March 4, 2016, and has been assigned to Judge Richard J. Sullivan.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false statements regarding and/or failing to disclose that Rockwell’s main product offering for Triferic, an iron replacement drug packaged in powder form, has not yet been approved by the FDA.
Specifically, on February 29, 2016, Rockwell released its fourth quarter, announcing below-expectations results. The Company explained that it was still waiting for FDA approval of a powder packet form of Triferic, halting its sale. Rockwell also disclosed that it was seeking to obtain transitional add-on payment reimbursement for Triferic with the Centers for Medicare & Medicaid Services instead of bundled reimbursement.
After the announcement, Rockwell’s share price fell from a closing price of $9.60 per share on February 29, 2016 to a closing price of $6.31 on March 1, 2016—a $3.29 or a 34.27% drop.
If you invested in Rockwell stock or options between September 9, 2015 and February 29, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Rockwell’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.
* The submission of this form does not create an attorney-client relationship.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.