This lawsuit is for anyone who acquired securities in Rockwell Medical, Inc. (NASDAQ: RMTI) from March 16, 2018 through June 26, 2018.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, during the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that Company knew, but failed to disclose, that Medicare and Medicaid would not reimburse doctors for administering the Company's lead drug, Triferic, an iron maintenance therapy that replaces the iron lost by patients during dialysis treatment, separate from the money the government paid doctors for performing the treatment, thereby making it more difficult to convince doctors to use the pricey and potentially unnecessary drug.
On May 22, 2018, Rockwell announced that it had fired its President and Chief Executive Officer, Robert Chioini, effective immediately. On this news, NASDAQ temporarily halted trading of the Company's stock. Then, on June 27, 2018, the Company's auditor resigned stating that it could not go along with the Company's refusal to tell the truth about the government's potion regarding separate reimbursement for Triferic and, in its resignation letter to the Company, attached a letter from CMS to the Company, dated March 27, 2018, denying the Company's request for separate reimbursement for Triferic. On this news, the price of the Company's stock dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Rockwell Medical, Inc. (NASDAQ: RMTI) from March 16, 2018 through June 26, 2018 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
First Name: *
Last Name: *
If Representing an Institution, Name of Institution:
If Representing an Institution, Position at Institution:
Mailing Address: *
Phone #: *
I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.