05/08/2018 15:29:39

Rockwell Class Action: Bernstein Liebhard LLP Files Securities Class Action Lawsuit Against Rockwell Medical, Inc. - RMTI

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NEW YORK, Aug. 05, 2018 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, has filed a securities class action lawsuit on behalf of those who purchased or acquired the securities of Rockwell Medical, Inc. (“Rockwell” or the “Company”) (NASDAQ: RMTI) between March 16, 2018 and June 26, 2018, both dates inclusive (the “Class Period”). The lawsuit seeks to recover Rockwell shareholders’ investment losses.

To join the Rockwell class action, and/or to discuss your legal rights and options, please visit Rockwell Medical Shareholder Class Action Lawsuit or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com.

According to the lawsuit, throughout the Class Period Defendants’ made false and/or misleading statements and/or failed to disclose that: (1) Rockwell was aware that the Centers for Medicare and Medicaid Services will not pursue Rockwell’s proposal for separate reimbursement for Triferic; (2) the estimated reserves in Rockwell’s Form 10-Q for the quarter ended March 31, 2018 are misstated; (3) there was a material weakness in Rockwell’s internal control over financial reporting; (4) consequently, Rockwell’s internal control over financial reporting was ineffective during the Class Period; (5) Robert L. Chioini, former Chief Executive Officer of Rockwell, withheld material information regarding Triferic from Rockwell’s auditor, corporate counsel and five independent directors of Rockwell’s Board; and (6) as a result, Defendants’ statements about Rockwell’s business, operations and prospects were materially false and misleading and/or lacked reasonable bases at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

The class action is pending in the United States District Court for the Eastern District of New York, under docket number 1:18-cv-04253. If you wish to serve as lead plaintiff, you must move the Court no later than September 25, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

To join the Rockwell class action, and/or to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/rockwell-medical-inc-rmti-class-action-lawsuit-72/ or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information

Daniel Sadeh

Bernstein Liebhard LLP

https://www.bernlieb.com

(877) 779-1414

dsadeh@bernlieb.com

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