ViewRay, Inc. Securities Litigation

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Lawsuit Overview

Defendant:ViewRay, Inc.
Date Filed:September 13th, 2019
Sector:Health Care
Industry:Biotechnology: Electromedical & Electrotherapeutic Apparatus

According to the Complaint, ViewRay designs, manufactures, and markets the MRIdian radiation therapy system, which employs MRI-based technology to provide real-time imaging that differentiates the targeted tumor from the surrounding soft tissue and other critical organs during radiation treatment.

The Complaint alleges that throughout the Class Period, Defendants issued materially false and misleading statements that failed to disclose adverse facts concerning the Company's business, operations and financial results. Specifically, the Complaint alleges: (a) that demand for ViewRay systems had declined due in part to changes being made to Medicare reimbursement approaches first announced in November 2019 that could make purchases of new ViewRay systems less profitable for customers; (b) that the Company's reported backlog was overstated due to the inclusion of orders with insufficient surety as to permit for their inclusion in reported backlog; and (c) that as a result of the foregoing, Defendants' positive statements about ViewRay's business metrics and financial prospects during the Class Period were materially false and misleading and/or lacked a reasonable basis.

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First Identified Complaint

Cort Corwin, et al. v. ViewRay, Inc., et al.

Date Filed:September 13th, 2019
Class Period Start:March 15th, 2019
Class Period End:August 8th, 2019
First Identified Complaint Filings
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