Ra Medical Systems, Inc. Securities Litigation

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Lawsuit Overview

Defendant:Ra Medical Systems, Inc.
Date Filed:June 7th, 2019
Sector:Health Care
Industry:Medical/Dental Instruments

According to the Complaint, Ra Medical is a medical device company that purports to use its excimer laser-based platform for treatment of vascular and dermatological immunemediated inflammatory diseases.

The Complaint 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, the Complaint alleges 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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First Identified Complaint

Ervin Derr, et al. v. Ra Medical Systems, Inc., et al.

Date Filed:June 7th, 2019
Class Period Start:September 27th, 2018
Class Period End:October 1st, 2018
First Identified Complaint Filings
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