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NEW YORK, June 12, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Ra Medical Systems, Inc. (NYSE: RMED) pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with Ra Medical’s September 2018 initial public offering (the “IPO”). The lawsuit seeks to recover damages for Ra Medical investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than August 6, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation follow this http://zhanginvestorlaw.com/join-action-form/?slug=ra-medical-systems-inc&id=1904 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email firstname.lastname@example.org, email@example.com for information on the class action.
According to the lawsuit, the Registration Statement was false and/or misleading and/or failed to disclose that: (1) Ra Medical’s evaluation of sales personnel candidates was inadequate; (2) Ra Medical’s training program for sales personnel was inadequate; (3) Ra Medical could not reasonably assure that its newly hired sales personnel were adequately experienced; (4) Ra Medical would suffer a shortage of qualified sales personnel; (5) Ra Medical’s manufacturing process could not reasonably support increased catheter production; (6) Ra Medical would suffer production delays; and (7) as a result of the foregoing, defendants’ positive statements about Ra Medical’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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