BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the September 4, 2015 lead plaintiff deadline in the class action lawsuit filed on behalf of a class comprising purchasers of the securities of CorMedix, Inc. (NYSE: CRMD) (“CorMedix” or “the Company”) who purchased the Company’s securities between March 12, 2011 and June 29, 2015, inclusive (the “Class Period”).
CorMedix is a pharmaceutical company that intends to in-license, develop, and commercialize therapeutic products for the prevention and treatment of cardiac, renal, and infectious diseases.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose, among others: (1) CorMedix’s only viable product in development is based on a 1970s-era chemical product acquired for less than $1 million in a bankruptcy sale; (2) CorMedix relies heavily on paid stock promoters to pump the stock’s value; (3) CorMedix uses misleading clinical data to hide the fact that its Neutrolin/Taurolidine product is a failure; and (4) the Company is led by an alleged “wipeout artist,” and associated with partners that have been barred from the securities business by FINRA.
On news of the alleged wrongdoing of its executives and misleading statements by the Company, shares of CorMedix fell $0.81 per share, or 16%, to close on June 29, 2015 at $4.05 per share thereby damaging investors.
If you purchased shares of CorMedix during the Class Period, if you have information or would like to learn more about these claims, or have any questions concerning this announcement, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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