NEW YORK, Jan. 31, 2017 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of ReWalk Robotics Ltd. ("ReWalk" or the "Company") (Nasdaq: RWLK).
A class action complaint has been filed in the United States District Court for the Northern District of California alleging violations of the Securities Act of 1933 ("Securities Act").
The complaint is brought on behalf of persons other than the defendants who purchased or otherwise acquired ReWalk securities pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with the Company's initial public offering on or about September 12, 2014 (the "Class"). The complaint alleges that in the IPO, the Company sold 3,450,000 ordinary shares (including an option provided to the underwriters of the IPO to purchase 450,000 ordinary shares) at a price of $12 per share for total proceeds of approximately $41.1 million.
The complaint alleges that the defendants violated Sections 11, 12(a)(2) and 15 of the Securities Act because the Registration Statement contained untrue statements of material facts or omitted to state material facts necessary to make the statements made not misleading. More specifically, the Complaint alleges that the Registration Statement and Prospectus for the IPO failed to disclose that ReWalk was unprepared and/or unable to comply with the FDA's extensive "special controls" requirements, including the post-market surveillance study required by the FDA for the Company to maintain ongoing sales of its products.
If you are a member of the proposed Class, you may move the court no later than March 27, 2017 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing firstname.lastname@example.org or by calling 800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, the action, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
Fax: (212) 687-7714
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
Fax: (415) 772-4707
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SOURCE Kaplan Fox & Kilsheimer LLP