NEW ORLEANS, July 1, 2016 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 1, 2016 to file lead plaintiff applications in a securities class action lawsuit against TransEnterix, Inc. (NYSE MKT: TRXC), if they purchased the Company's securities between February 10, 2016 and May 10, 2016, inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of North Carolina.
What You May Do
If you purchased shares of TransEnterix and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 1, 2016.
About the Lawsuit
TransEnterix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) there were deficiencies with TransEnterix's 510(k) application to the Food and Drug Administration ("FDA") regarding its SurgiBot System, a single-port, robotically enhanced laparoscopic surgical platform, that undermined the likelihood that the SurgiBot would receive FDA clearance; (ii) as a result, TransEnterix would be unable to commercialize the SurgiBot in 2016; and (iii) consequently, TransEnterix's ability to obtain approval for and commercialize its other robotic surgery platform in the U.S. would be impaired.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC