NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) securities between March 15, 2017 and December 27, 2017 (the “Class Period”). Investors have until March 5, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On December 14, 2017, Ekso announced that "the Company's internal control over financial reporting as of December 31, 2016 should no longer be relied upon and that a material weakness in the Company's internal control over financial reporting existed as of such date." Following this news, Ekso's share price fell $0.15, or 6.17%, to close at $2.28 on December 15, 2017.
On December 27, 2017, post-market, Ekso filed its amended annual report for 2016 and amended quarterly reports for the first three quarters of 2017. The following trading day, shares of Ekso fell $0.34, or 13.2%, to close at $2.23 per share on December 28, 2017.
The complaint alleges that, throughout the class period, defendants made false and/or misleading statements and/or failed to disclose that: (1) there was a material weakness in Ekso’s internal control over financial reporting and Ekso’s disclosure controls and procedures were not effective; and (2) as a result, Defendants public statements were materially false and misleading at all relevant times.
If you purchased or otherwise acquired Ekso securities and suffered a loss, continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Ekso Bionics lawsuit, please go to http://www.bespc.com/ekso. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.