LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Rockwell Medical, Inc. (“Rockwell Medical” or “the Company”) (NASDAQ: RMTI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between March 16, 2018, and June 26, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before September 25, 2018.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Rockwell Medical had knowledge that the Centers for Medicare and Medicaid Services would not pursue the Company’s plan for reimbursement for Triferic. The Company’s estimated reserves on form 10-Q for the quarter ending March 31, 2018, were misstated. Rockwell Medical suffered from material weakness in controls for financial reporting. Robert L. Chioini, Rockwell’s former Chief Executive Officer, failed to inform the Company’s auditors, corporate counsel, and independent board members with important information about Triferic. Based on these facts, the Company’s public statements about business operations, prospects, and results were false and materially misleading throughout the class period. When the market learned the truth about Rockwell Medical, investors suffered damages.
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