Kaskela Law LLC Announces Investigation of electroCore, Inc. on Behalf of Investors
October 03 2019 - 7:02PM
Business Wire
Kaskela Law LLC is investigating electroCore, Inc.
(“electroCore” or the “Company”) (NASDAQ: ECOR) on behalf of
investors.
electroCore is a commercial-stage bioelectronic medicine company
focused on non-invasive vagus nerve stimulation (“VNS”) therapy.
The Company is developing gammaCore, a prescription-only
non-invasive VNS therapy for the acute treatment of pain associated
with migraine and episodic cluster headache in adults.
On or about June 21, 2018, electroCore completed its initial
public offering (“IPO”) of common stock, selling 5.2 million shares
of stock to investors at $15.00 per share.
On May 14, 2019, the Company announced first quarter 2019
financial and operational results, which included a quarterly
operating loss of $14.2 million. Following this news, shares of
electroCore’s stock declined nearly 30% in value, to close on May
15, 2019 at $3.75 per share.
Then, on September 25, 2019, the Company disclosed that the U.S.
Food and Drug Administration (“FDA”) “has requested more
information and analysis of the clinical data included in the
Company’s premarket notification, or ‘510(k)’ submission, seeking
an expanded indication for the use of gammaCore.” On this news,
shares of electroCore’s stock fell an additional 23% in value, to
close on September 25, 2019 at $2.57 per share.
Kaskela Law LLC is investigating whether electroCore and/or the
Company’s officers and directors violated the securities laws in
connection with electroCore’s IPO, and whether investors have been
harmed as a result of such actions and/or misstatements.
electroCore investors who purchased shares of the Company’s
stock between June 21, 2018 and May 14, 2019 are encouraged
to contact Kaskela Law LLC at (888) 715–1740, or online at
http://kaskelalaw.com/case/electrocore-inc/, for additional
information about this action and their legal rights and
options.
Kaskela Law LLC exclusively represents investors in securities
fraud and shareholder rights litigation in state and federal
actions. For additional information about Kaskela Law LLC please
visit www.kaskelalaw.com.
This notice may constitute attorney advertising in certain
jurisdictions.
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version on businesswire.com: https://www.businesswire.com/news/home/20191003005873/en/
D. Seamus Kaskela, Esq. KASKELA LAW LLC 18 Campus Blvd.,
Suite 100 Newtown Square, PA 19073 (484) 258 – 1585 (888) 715 –
1740 www.kaskelalaw.com skaskela@kaskelalaw.com
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