NEW YORK, April 20, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of TransEnterix, Inc. ("TransEnterix" or the "Company") (NYSEMKT: TRXC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether TransEnterix and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 20, post-market, TransEnterix issued a press release announcing that the Food and Drug Administration ("FDA") notified the Company on April 19, 2016 of its determination that the "SurgiBot™ System does not meet the criteria for substantial equivalence based upon the data and information submitted by TransEnterix in its 510(k) submission."
On April 20, 2016, TransEnterix's stock fell as much as $2.99, or 63.08%, to $1.75 in after-hours trading.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP