NEW YORK, Sept. 19, 2018 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national securities and consumer rights litigation firm, is notifying investors that a class action lawsuit has been filed against Rockwell Medical, Inc. (NASDAQ: RMTI) ("Rockwell" or the "Company") and other defendants, related to alleged violations of federal securities laws. If you purchased Rockwell stock or securities between November 8, 2017 and June 26, 2018, you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for additional information. Please note this class period has been expanded. Investors have until September 25, 2018, to move for lead plaintiff.
Rockwell is a biopharmaceutical company targeting end-stage renal and chronic kidney diseases. The company's lead drug is Triferic, an iron maintenance therapy.
The lawsuit alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) Rockwell was aware that the Centers for Medicare and Medicaid Services will not pursue Rockwell's proposal for separate reimbursement for Triferic; (ii) the estimated reserves in Rockwell's Form 10-Q for the quarter ended March 31, 2018 are misstated; (iii) there was a material weakness in Rockwell's internal control over financial reporting; (iv) consequently, Rockwell's internal control over financial reporting was ineffective; (v) Robert L. Chioini, former Chief Executive Officer of Rockwell, withheld material information regarding Triferic from Rockwell's auditor, corporate counsel and five independent directors of Rockwell's Board; and (vi) as a result of the foregoing, Defendants' statements about Rockwell's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
What You Can Do
If you purchased Rockwell shares between November 8, 2017 and June 26, 2018, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at email@example.com.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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