A lawsuit was filed on behalf of investors in Ra Medical Systems, Inc. (NYSE: RMED) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 07/30/2019 -- An investor, who purchased shares of Ra Medical Systems, Inc. (NYSE: RMED), filed a lawsuit over alleged violations of Federal Securities Laws by Ra Medical Systems, Inc in connection with the Company's September 2018 initial public offering ("IPO" or the "Offering")
Investors who purchased shares of Ra Medical Systems, Inc. (NYSE: RMED) have certain options and for certain investors are short and strict deadlines running. Deadline: August 9, 2019. NYSE: RMED investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
In September 2018, Ra Medical completed its initial public offering ("IPO"), issuing approximately 4.5 million shares of common stock priced at $17 per share. On March 14, 2019, the Company revealed that its fourth quarter 2018 financial results had been negatively impacted by issues related to the hiring and training of qualified sales personnel and certain production limitations.
The plaintiff claims that the Defendants failed to disclose to investors that the Company's evaluation of sales personnel candidates was inadequate, that the Company's training program for sales personnel was inadequate, that, as a result, the Company could not reasonably assure that its newly hired sales personnel were adequately experienced, that, as a result, the Company would suffer a shortage of qualified sales personnel, that the Company's manufacturing process could not reasonably support increased catheter production, that, as a result, the Company would suffer production delays, and 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 Ra Medical Systems, Inc. (NYSE: RMED) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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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