On or around 06/18/2019 (Other)
Filing Date: January 31, 2017
According to the law firm press release, the complaint alleges that the Registration Statement and Prospectus issued in connection with the Initial Public Offering failed to disclose material information, including that ReWalk was unprepared and/or unable to comply with “special controls” requirements or to provide the U.S. Food and Drug Administration with a postmarket surveillance study as required by the FDA for the Company to maintain ongoing sales of its products.
A consolidated and amended complaint was filed on August 9, 2017. Defendants filed a Motion to Dismiss the amended Complaint on November 10. On January 23, 2018, the Court issued an Order denying the Motion to Dismiss for insufficient service of process. On August 23, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss for failure to state a claim. The Dismissal Order dismissed the Securities Act claims. On May 16, 2019, the Court issued an Order dismissing the Exchange Act claims and closing the case. Lead Plaintiff filed a Notice appealing the Court's Dismissal Order on June 14.
Company & Securities Information
Defendant: ReWalk Robotics Ltd.
Industry: Medical Equipment & Supplies
Ticker Symbol: RWLK
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.