NEW YORK, Oct. 19, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Silk Road Medical, Inc. (“Silk Road” or the “Company”) (NASDAQ: SILK). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Silk Road and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On October 10, 2023, Silk Road announced that its second quarter 2023 revenues were expected to be below its first quarter revenues and significantly reduced its expected full year 2023 revenues. Concurrently, Silk Road announced the departure of Chief Executive Officer Erica Rogers. Although Silk Road did not offer any explanation for its reduced revenues, the announcement followed the Centers for Medicare & Medicaid Services’ July 2023 proposed National Coverage Determination, which reportedly proposed to change coverage for a stroke treatment for carotid artery disease that could put a competing therapy alongside Silk Road’s Transcarotid Artery Revascularization therapy regarding reimbursement.
On this news, Silk Road’s stock price fell $6.86 per share, or 49.04%, to close at $7.13 per share on October 11, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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