Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CorMedix Inc.
New York, New York – (Newsfile Corp. – July 23, 2021) – Bernstein Liebhard, a nationally recognized investor rights law firm, announces that on behalf of investors who have purchased CorMedix Inc. (“CorMedix” or the “Corporate”) (NASDAQ: CRMD) from July 8, 2020 to May 13, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the District of New Jersey alleges violations of the Exchange Act of 1934.
If you have acquired CorMedix securities and / or would like to discuss your legal rights and options, please visit the CorMedix class action lawsuit or contact Noah Wiesner toll-free at (877) 779-1414 or email@example.com
The complaint alleges that throughout the collection period, Defendants made false and / or misleading statements and / or failed to disclose: (i) Deficiencies in the DefenCath manufacturing process and / or those responsible for DefenCath manufacturing Facility; (ii) In view of the foregoing deficiencies, it was unlikely that the FDA would approve the DefenCath NDA for Catheter-Related Blood Infections (“CRBSIs”) in its current form; (iii) Defendants downplayed the true extent of the defects in DefenCath’s manufacturing process and / or in the facility responsible for manufacturing DefenCath; and (iv) as a result, the Company’s public statements at all relevant times have been materially false and misleading.
On March 1st, 2021 CorMedix published a press release “announce”[ing] that the [FDA] can’t approve of that [new drug application (“NDA”)] for DefenCath … in its current form. “CorMedix informed investors that” The FDA has identified concerns about the third-party manufacturing facility after reviewing the documentation requested by the FDA and provided by the manufacturing facility. “
As a result of this news, CorMedix’s share price fell $ 5.98 per share, or 39.87%, to close at $ 9.02 per share on March 1, 2021.
The story goes on
On March 13, 2021, CorMedix announced that “[b]Based on our analyzes, we have come to the conclusion that additional process qualification with subsequent validation is required in order to remedy the deficiencies identified by the FDA. “
As a result of this news, CorMedix stock price fell $ 1.51 per share, or 19.97%, to close at $ 6.05 per share on May 14, 2021.
If you want to serve as the lead plaintiff, you must call the court no later than September 20, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in the conduct of the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you do nothing, you can remain an absent class member.
If you have acquired CorMedix securities and / or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/cormedixinc-crmd-shareholder-class-action-lawsuit-fraud-stock-418 / apply / or contact Noah Wiesner toll-free at (877) 779-1414 or firstname.lastname@example.org
Since 1993, Bernstein Liebhard LLP has recovered over $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to monitor their assets and litigate on their behalf. As a result of its success in hundreds of lawsuits and class actions, the firm has been included on the National Law Journal’s “Plaintiffs’ Hot List” thirteen times and on The Legal 500 for ten consecutive years.
ADVERTISING LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this complaint in the Connecticut state is Michael S. Bigin. Past results do not guarantee or predict a similar result with respect to future matters.
Bernstein Liebhard LLP
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91080
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