NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of ReWalk Robotics Ltd. (“ReWalk”) (NASDAQGM:RWLK) pursuant to the Company’s initial public offering (“IPO”) on or around September 12, 2014.
You are hereby notified that a securities class action lawsuit has been commenced in the Superior Court of the State of California, County of San Mateo. If you purchased or otherwise acquired ReWalk securities pursuant to the initial public offering your rights may be affected by this action. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that while the Registration Statement filed pursuant to the IPO stated that the U.S. Food and Drug Administration had classified ReWalk as subject to special controls, including compliance with medical device consensus standards, performance of a postmarket surveillance clinical study demonstrating a reasonable assurance of safety and effectiveness in urban terrain, and a training program, among other things, the Company failed to disclose that it was unable to comply with the special controls. ReWalk also omitted that it had received a Warning Letter from the FDA in September of 2015, in which the FDA outlined ReWalk’s failures to propose and commence an adequate postmarket surveillance plan. 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.
If you suffered a loss in ReWalk and would like to obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/rewalk-robotics-rwlk.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.