NEW YORK, May 16, 2019 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Ra Medical Systems, Inc. (“Ra Medical” or the “Company”) (NYSE: RMED). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Ra Medical and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
In September 2018, Ra Medical completed its initial public offering (“IPO”), issuing approximately 4.5 million shares of common stock priced at $17.00 per share. Then, on March 14, 2019, Ra Medical 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.
On this news, Ra Medical’s stock price fell $2.14 per share, or roughly 32.6%, to close at $4.43 per share on March 15, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
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