Rockwell Medical investors may receive additional information about the case by clicking the link "Join this Class Action" above.
According to the complaint, Rockwell Medical operates as an integrated biopharmaceutical company in the United States and internationally, and offers products and services for the treatment of end-stage renal disease, chronic kidney disease, iron deficiency, secondary hyperparathyroidism, and hemodialysis.
The complaint alleges that throughout the Class Period, the defendants made materially false and/or misleading statements that misrepresented and failed to disclose adverse facts pertaining to the company’s business, operational and financial results, Specifically, the complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that: (1) the primary product offering for Triferic will be in a powder packet packaging, which the FDA has not yet approved; (2) Rockwell Medical is seeking to obtain transitional add-on payment reimbursement for Triferic with the Centers for Medicare & Medicaid Services instead of bundled reimbursement; and (3) as a result, the defendants’ statements about Rockwell Medical’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis.
The Class Period commences on September 9, 2015, when the company issued a press release announcing the U.S. commercial launch of Triferic.
According to the complaint, on February 29, 2016, the company issued a press release after the market closed announcing disappointing fourth quarter and fiscal year 2015 results. The complaint also alleges that on February 29, 2016, the company held an investor conference call after the market closed to discuss the company’s disappointing fourth quarter and fiscal year 2015 results. During the conference call, it was revealed, among other things, that the primary product offering for Triferic would be in a powder packet packaging, which the FDA had not yet approved.
Following this news, shares of Rockwell Medical fell $3.29 per share or approximately 34% from its previous closing price to close at $6.31 per share on March 1, 2016.
If you are a member of the class described above, you may no later than May 3, 2016 move the Court to serve as lead plaintiff of the class, if you so choose.
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. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com