Lawsuit for Investors in ReWalk Robotics Ltd (NASDAQ:RWLK) shares announced by Shareholders Foundation
September 27 2016 - 10:15AM
The Shareholders Foundation, Inc. announces that a lawsuit was
filed in for certain investors in ReWalk Robotics Ltd (NASDAQ:RWLK)
over alleged Securities Laws violations by ReWalk Robotics Ltd in
connection the company’s September 12, 2014 initial public
offering.
Investors who purchased shares of ReWalk Robotics Ltd
(NASDAQ:RWLK) have certain options and should contact the
Shareholders Foundation at mail@shareholdersfoundation.com or call
+1(858) 779 - 1554.
The plaintiff alleges on behalf of the investors, who purchased
ReWalk Robotics Ltd (NASDAQ:RWLK) common shares pursuant or
traceable to its initial public offering ("IPO") on September 12,
2014, that the defendants violated the Securities Act of 1933.
The plaintiff claims that the company’s registration statement
for its September 12, 2014 IPO contained untrue statements of
material facts, omitted to state other facts necessary to make the
statements made not misleading and/or was not prepared in
accordance with the rules and regulations governing its
preparation.
More specifically, the plaintiff alleges that the company’s
registration statement for its September 12, 2014 IPO failed to
disclose that despite the regulatory requirements to comply with
“special controls” and provide the FDA with a postmarket
surveillance study of ReWalk Robotics ReWalk product, the company
was woefully unprepared and/or unable to do so.
The plaintiff claims that at a minimum, ReWalk Robotics Ltd
should have disclosed in the registration statement for its
September 12, 2014 IPO that its own internal clinical and
regulatory resources were then insufficient to enable the company
to comply with the FDA’s postmarket surveillance requirements and
that the registration statement should have disclosed that to cure
this deficiency, it was incumbent on the Company to hire or
contract for a larger number of skilled employees to enable ReWalk
Robotics Ltd to plan, undertake, and timely complete an adequate
postmarket surveillance study that would satisfy FDA standards.
Shares of ReWalk Robotics Ltd (NASDAQ:RWLK) declined from as
high as $43.71 per share on September 15, 2014 to as low as $5.55
per share on December 11, 2015.
Those who purchased ReWalk Robotics Ltd (NASDAQ:RWLK) shares
have certain options and should contact the Shareholders
Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or
call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and a 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. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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