RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Rockwell Medical, Inc. (“Rockwell Medical” or the “Company”) (NASDAQ: RMTI) securities between March 16, 2018 and June 26, 2018, inclusive (the “Class Period”).
Rockwell Medical shareholders may, no later than September 25, 2018, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Rockwell Medical and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
Rockwell Medical operates as an integrated biopharmaceutical company targeting end-stage renal and chronic kidney diseases in the United States and internationally.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Rockwell was aware that the Centers for Medicare and Medicaid Services will not pursue Rockwell’s proposal for separate reimbursement for Triferic; (2) the estimated reserves in Rockwell’s Form 10-Q for the quarter ended March 31, 2018 are misstated; (3) there was a material weakness in Rockwell’s internal control over financial reporting; (4) consequently, Rockwell’s internal control over financial reporting was ineffective during the Class Period; (5) Robert L. Chioini, former Chief Executive Officer of Rockwell, withheld material information regarding Triferic from Rockwell’s auditor, corporate counsel and five independent directors of Rockwell’s Board; and (6) consequently, Defendants’ statements about Rockwell’s business, operations and prospects were materially false and misleading and/or lacked reasonable bases at all relevant times.
If you are a member of the class, you may, no later than September 25, 2018, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.