On or around 03/30/2018 (Court's order of dismissal)
Filing Date: March 04, 2016
According to the law firm press release, the lawsuit alleges throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) the primary product offering for Triferic will be in a powder packet packaging, which the FDA has not yet approved; (2) Rockwell Medical is seeking to obtain transitional add-on payment reimbursement for Triferic with the Centers for Medicare & Medicaid Services instead of bundled reimbursement; and (3) as a result, defendants’ statements about Rockwell Medical’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On May 20, 2016, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiffs filed an amended complaint on July 26. A second amended complaint was filed on November 21.
Defendants filed a Motion to Dismiss the amended Complaint on January 6, 2017. On March 30, 2018, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.
Company & Securities Information
Defendant: Rockwell Medical, Inc.
Industry: Major Drugs
Headquarters: United States
Ticker Symbol: RMTI
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Jeremy Schokman, et al. v. Rockwell Medical, Inc., et al.