LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against electroCore, Inc. (“electroCore” or “the Company”) (NASDAQ: ECOR) 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 pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s June 2018 initial public offering (“IPO”); and/or purchased or otherwise acquired electroCore securities between June 22, 2018 and September 25, 2019, inclusive (the “Class Period”), are encouraged to contact the firm before November 25, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall 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 firstname.lastname@example.org.
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. electroCore’s primary product, gammaCore, did not demonstrate any significant advantages when compared to other treatments for migraines and other headaches. Due to this lack of competitive advantage, doctors and patients were unlikely to embrace the new product. electroCore lacked the resources to successfully bring gammaCore to market, in fact, its entire business plan and strategy were unsustainable due to a lack of revenue. In fact, the Company lacked clinical data to show that gammaCore was safe and effective, making the Company’s 510(k) submission to the FDA unlikely to be approved. Based on these facts, the Company’s public statements were false and materially misleading. When the market learned the truth about electroCore, investors suffered damages.
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