SAN FRANCISCO--(BUSINESS WIRE)--Girard Gibbs LLP is investigating claims on behalf of investors of Rockwell Medical, Inc. (NASDAQ: RMTI) involving possible securities law violations.
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After the close of trading on May 22, 2018, Rockwell Medical, Inc. (NASDAQ:RMTI) announced that the Company’s President and Chief Executive Officer, Robert Chioini, “has been terminated from his positions, effective immediately.”
Following this press release, Chioini signed a report filed on Form 8-K with the U.S. Securities and Exchange Commission, disclosing that:
“A board meeting called for the purpose of discussing a shareholder demand letter and informing the board that the independent non-conflicted directors had hired independent counsel to conduct an internal investigation in response to the demand letter requiring immediate initiation of an investigation of alleged breach of fiduciary duties by various directors and other possible violations of federal securities laws. The directors who are the subjects of the allegations of breaches of fiduciary duty asserted the position that they voted to fire the CEO.”
In the wake of this news, trading in Rockwell shares halted trading on May 23 and May 24, 2018.
If you purchased or acquired RMTI and would like to speak privately with a securities attorney to learn more about the investigation or your legal rights as an investor, please visit our website or contact the securities team directly at (800) 254-9493.
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