JACKSON, Mich. & ST. LOUIS PARK, Minn.--(BUSINESS WIRE)--Richmond Brothers, Inc., a Michigan-based SEC registered investment advisor and wealth management firm that is the largest beneficial owner of Rockwell Medical, Inc. (NASDAQ: RMTI) (“Rockwell” or the “Company”), and Mark H. Ravich, who together with their affiliates beneficially own nearly 6.1 million shares, or 11.7% of the Company’s outstanding common stock, today announced that the U.S. District Court for the Eastern District of Michigan, Southern Division, has issued an order denying Rockwell’s motion for preliminary injunction against Richmond Brothers and Mark H. Ravich.
Rockwell had sought this preliminary injunction in order to require Richmond / Ravich to amend their Schedule 13D filing and prohibit them from soliciting shareholder votes in the context of their proxy contest to elect Mark H. Ravich to the Board.
David S. Richmond, Chairman of Richmond Brothers, Inc., and Mark H. Ravich said, “After Rockwell has repeatedly referenced the claims in this lawsuit to dissuade shareholders from supporting us, we are pleased to share the Court’s ruling with the Rockwell investment community. The ruling makes clear that shareholders will be afforded a full opportunity to cast their votes as they deem appropriate. We will continue to make our case for change at Rockwell as we approach the Company’s annual meeting.”
Shareholders who have already voted on the BLUE proxy card to elect Mark H. Ravich to the Board need take no further action. Shareholders who have voted on the Company’s white proxy card may change their vote by voting a later-dated BLUE proxy card today. Voting withhold on Rockwell’s nominee on the white proxy card is not the same as voting for Mark H. Ravich on the BLUE proxy card.
For more information, and to see other communications and filings from Richmond Brothers and Mark H. Ravich, visit this link: http://www.richmondbrothers.com/time-for-action-at-rmti.
VOTE THE BLUE PROXY CARD TO ELECT MARK H. RAVICH TODAY
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About Richmond Brothers, Inc.
Richmond Brothers, Inc. is an SEC registered investment advisor and wealth management firm founded in 1994.
About Mark H. Ravich
Mark H. Ravich is a private investor and currently serves as President of Tri-Star Management, Inc., a commercial real estate management and syndication company that he co-founded in 1998.