Rockwell Medical, Inc. Securities Litigation (2018)

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Lawsuit Overview

Defendant:Rockwell Medical, Inc.
Date Filed:July 27th, 2018
Sector:Health Care
Industry:Biotechnology: Electromedical & Electrotherapeutic Apparatus
Class Start Date:November 8th, 2017
Class End Date:June 26th, 2018
Settlement Website: http://www.rockwellsecuritiessettlement.com
Settlement Deadline:February 7th, 2020

According to the Complaint, Rockwell Medical, Inc. ("Rockwell" or the "Company") operates as an integrated biopharmaceutical company targeting end-stage renal and chronic kidney diseases in the United States and
internationally.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Rockwell was aware that the Centers for Medicare and Medicaid Services will not pursue Rockwell's proposal for separate reimbursement for Triferic; (2) the estimated reserves in Rockwell's Form 10-Q for the quarter ended March 31, 2018 are misstated; (3) there was a material weakness in Rockwell's internal control over financial reporting; (4) consequently, Rockwell's internal control over financial reporting was ineffective during the Class Period; (5) the 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 (6) as a result, Defendants' statements about Rockwell's business, operations and prospects were materially false and misleading and/or lacked reasonable bases at all relevant times.

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First Identified Complaint

Ah Kit Too, et al. v. Rockwell Medical, Inc., et al.

Date Filed:July 27th, 2018
Class Period Start:November 8th, 2017
Class Period End:June 26th, 2018
First Identified Complaint Filings
#Document TitleFiling Date