A lawsuit was filed on behalf of investors in Helius Medical Technologies, Inc. (NASDAQ: HSDT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/05/2019 -- An investor, who purchased shares of Helius Medical Technologies, Inc. (NASDAQ: HSDT), filed a lawsuit against by Helius Medical Technologies, Inc. over alleged violations of Federal Securities Laws.
Investors who purchased shares of Helius Medical Technologies, Inc. (NASDAQ: HSDT) have certain options and for certain investors are short and strict deadlines running. Deadline: September 9, 2019. NASDAQ: HSDT investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Newtown, PA based Helius Medical Technologies, Inc., a medical technology company, focuses on the development of products for the treatment of neurological symptoms caused by disease or trauma.
On January 22, 2019, an article was published stating that Helius Medical Technologies' phase III trial "missed its primary effectiveness endpoint" and that Helius "has redacted important trial info." The article further states that the founders "have a history of questionable marketing practices" and that the former CEO "is now a fugitive."
On April 10, 2019, Helius Medical Technologies' disclosed that the U.S. Food and Drug Administration ("FDA") had declined the Company's request for De Novo classification and clearance of its Portable Neuromodulation Stimulator device. The FDA stated that it lacked sufficient data to determine the relative contributions of the device and physical therapy in clinical studies
The plaintiff claims that between November 9, 2017 and April 10, 2019, the Defendants failed to disclose to investors: (1) that the clinical study on the use of PoNS did not produce statistically significant results regarding the effectiveness of the treatment; (2) that, as a result, the clinical study did not support the Company's application for regulatory clearance; (3) that, as a result, the Company was unlikely to receive regulatory approval of PoNS; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Helius Medical Technologies, Inc. (NASDAQ: HSDT) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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