The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of California on behalf of investors who purchased Ra Medical Systems, Inc. (NYSE: RMED) securities pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s September 2018 initial public offering. .
According to the Ra Medical lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s evaluation of sales personnel candidates was inadequate; (2) the Company’s training program for sales personnel was inadequate; (3) as a result, the Company could not reasonably assure that its newly hired sales personnel were adequately experienced; (4) as a result, the Company would suffer a shortage of qualified sales personnel; (5) the Company’s manufacturing process could not reasonably support increased catheter production; (6) as a result, the Company would suffer production delays; and (7) 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.
If you suffered a loss in Ra Medical you have until August 6, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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