NEW YORK, Oct. 6, 2016 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of ReWalk Robotics Ltd.
("ReWalk" or the "Company") (NASDAQ: RWLK) (ISIN:
IL0011331076). Investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com
or 888-476-6529, ext. 9980.
The investigation concerns whether ReWalk and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
[Click here to join a class action]
On or about September 17, 2014,
ReWalk announced the closing of its initial public offering ("IPO")
of 3,450,000 ordinary shares to the public, through which the
Company raised approximately $41.4
million. The IPO's registration statement stated that
the U.S. Food and Drug Administration ("FDA") had classified ReWalk
as subject to special controls, which included compliance with
medical device consensus standards, performance of a post-market
surveillance clinical study demonstrating a reasonable assurance of
safety and effectiveness in urban terrain, and a training program,
among other things. In September
2015, ReWalk received a Warning Letter from the FDA,
outlining ReWalk's substantial failures to propose and commence an
adequate post-market surveillance plan.
On February 25, 2016, ReWalk
disclosed receipt of the FDA's warning letter. On this news,
the Company's share price fell $1.24,
or 10.64%, to close at $10.41 on
February 25, 2016.
On May 10, 2016, ReWalk revealed
that at the time of the IPO, the Company had been unable to comply
with the FDA's special controls due to inadequate staffing.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, 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
CONTACT:
Robert S.
Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP