BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of Rockwell Medical, Inc. (“Rockwell” or the “Company) (NASDAQ: RMTI) investors concerning the Company and its officers’ possible violations of federal securities laws.
On May 22, 2018, Rockwell announced that the Company’s President and Chief Executive Officer, Robert Chioini, had been terminated from his positions, effective immediately. However, on May 23, 2018, the Company published a letter to shareholders on behalf of Chioini explaining that Chioini had called an emergency Board meeting for the purpose of discussing alleged breaches of fiduciary duties and other possible violations of securities laws by various directors the Company, and that those directors whose conduct was the subject of the alleged breaches of fiduciary duties voted to fire Chioini.
On this news, trading in the Company’s shares was halted. As of, May 30, 2018, the Company’s shares are trading at approximately $5.45 per share, a nearly 10% decline from the trading price on May 22, 2018, thereby injuring investors.
If you purchased Rockwell securities, have information or 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 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 www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.