CORRECTING and REPLACING INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Ra Medical Systems, Inc. Investors (RMED)
The corrected release reads:
INVESTOR ALERT: LAW OFFICES OF HOWARD G. SMITH ANNOUNCES THE FILING OF A SECURITIES CLASS ACTION ON BEHALF OF RA MEDICAL SYSTEMS, INC. INVESTORS (RMED)
Investors suffering losses on their
In
On this news, the Company’s share price fell
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company’s evaluation of sales personnel candidates was inadequate; (2) that the Company’s training program for sales personnel was inadequate; (3) that, as a result, the Company could not reasonably assure that its newly hired sales personnel were adequately experienced; (4) that, as a result, the Company would suffer a shortage of qualified sales personnel; (5) that the Company’s manufacturing process could not reasonably support increased catheter production; (6) that, as a result, the Company would suffer production delays; and (7) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
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