SAN DIEGO & RALEIGH, N.C.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Ekso Bionics Holdings, Inc. (NasdaqCM: EKSO) have filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between March 15, 2017 and December 27, 2017. Ekso designs, develops, and sells exoskeletons for use in the healthcare, industrial, military, and consumer markets in North America, Europe, the Middle East, and Africa.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/ekso-bionics-holdings-inc
Ekso Accused of Implementing Unreliable Internal Controls
According to the complaint, Ekso repeatedly attested to the accuracy of the company's financial reporting, the disclosure of any material changes to its internal controls over financial reporting, and the disclosure of all fraud in its public filings. It therefore came as a surprise to investors when Ekso disclosed on December 14, 2017, that its internal control over financial reporting as of December 31, 2016 should not be relied upon. Ekso cited a reevaluation of the company's information technology controls by the company's auditor. On December 27, 2017, Ekso filed its amended annual report for 2016 and amended quarterly reports for the first three quarters of 2017. Since news of Ekso's financial troubles became public, the company's stock declined over 24%, closing at $1.83 per share on March 9, 2018.
Ekso Shareholders Have Legal Options
If you would like more information about your rights and potential remedies, contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.