BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Ra Medical Systems, Inc. (“Ra Medical” or the “Company”) (NYSE: RMED) investors concerning the Company and its officers’ possible violations of federal securities laws.
In September 2018, Ra Medical completed its initial public offering (“IPO”), issuing approximately 4.5 million shares of common stock priced at $17 per share. On March 14, 2019, the Company revealed that its fourth quarter 2018 financial results had been negatively impacted by issues related to the hiring and training of qualified sales personnel and certain production limitations.
On this news, the Company’s share price fell $2.14 per share, nearly 33%, to close at $4.43 per share on March 15, 2019, thereby injuring investors. Since the IPO, Ra Medical’s stock has traded as low as $3.40 per share, significantly below the $17 offering price.
If you purchased Ra Medical 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 howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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