An investigation for investors in Conformis, Inc. (NASDAQ: CFMS) shares over potential securities laws violations by Conformis, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/20/2019 -- Conformis, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Conformis, Inc. (NASDAQ: CFMS), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Conformis, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Billerica, MA based Conformis, Inc., a medical technology company, develops, manufactures, and sells joint replacement implants. Conformis, Inc. reported that its annual Total Revenue rose from $78.11 million in 2017 to $89.78 million in 2018 and that its Net Loss declined from $53.58 million in 2017 to $43.36 million in 2018.
On July 31, 2019, post-market, Conformis, Inc announced its financial results for the second quarter of 2019. Conformis, Inc advised investors that it was "updating its 2019 expectations and now expects generally flat year-over-year product revenue growth for the full year 2019." Conformis, Inc stated that its "expected decrease in growth in the second half of the year is due primarily to denials of coverage from Aetna, the third largest commercial payor."
Shares of Conformis, Inc. (NASDAQ: CFMS) declined from $4.83 per share in June 2019 to as low as $1.41 per share on August 5, 2019.
Those who purchased shares of Conformis, Inc. (NASDAQ: CFMS) have certain options and should contact the Shareholders Foundation.
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