SOURCE: Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP

April 12, 2016 11:11 ET

SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in Rockwell Medical, Inc. to Contact the Firm Before Lead Plaintiff Deadline

NEW YORK, NY--(Marketwired - April 12, 2016) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Rockwell Medical, Inc. ("Rockwell" or the "Company") (NASDAQ: RMTI) of the May 3, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Rockwell stock and options between September 9, 2015 and February 29, 2016 (the "Class Period"). The case, Schokman v. Rockwell Medical, Inc. et al, No. 1:16-cv-01691 was filed on March 4, 2016, and has been assigned to Judge Richard J. Sullivan.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false statements regarding and/or failing to disclose that Rockwell's main product offering for Triferic, an iron replacement drug packaged in powder form, has not yet been approved by the FDA.

Specifically, on February 29, 2016, Rockwell released its fourth quarter, announcing below-expectations results. The Company explained that it was still waiting for FDA approval of a powder packet form of Triferic, halting its sale. Rockwell also disclosed that it was seeking to obtain transitional add-on payment reimbursement for Triferic with the Centers for Medicare & Medicaid Services instead of bundled reimbursement.

After the announcement, Rockwell's share price fell from a closing price of $9.60 per share on February 29, 2016 to a closing price of $6.31 on March 1, 2016-a $3.29 or a 34.27% drop.

Request more information now by clicking here: www.faruqilaw.com/RMTI. There is no cost or obligation to you.

Take Action

If you invested in Rockwell stock or options between September 9, 2015 and February 29, 2016 and would like to discuss your legal rights, visit www.faruqilaw.com/RMTI. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Rockwell's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

Contact Information

  • FARUQI & FARUQI, LLP
    685 Third Avenue, 26th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
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    Telephone: (877) 247-4292 or (212) 983-9330