A lawsuit was filed on behalf of investors in ConforMIS Inc (NASDAQ:CFMS) shares over alleged securities laws violations and NASDAQ:CFMS investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/21/2015 -- An investor in NASDAQ:CFMS shares filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Securities Laws by ConforMIS Inc.
Investors who purchased shares of ConforMIS Inc (NASDAQ:CFMS) have certain options and for certain investors are short and strict deadlines running. Deadline: November 2, 2015. NASDAQ:CFMS investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The plaintiff alleges on behalf of all persons or entities who purchased ConforMIS Inc (NASDAQ:CFMS) securities pursuant and/or traceable to ConforMIS Inc's Registration Statement and Prospectus (defined below) issued in connection with ConforMIS Inc's initial public offering on or about July 1, 2015 (the "IPO" or the "Offering") and/ or on the open market between July 1, 2015 and August 28, 2015, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between July 1, 2015 and August 28, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that ConforMIS Inc's manufacturing processes were flawed, that as a result of the flaws in ConforMIS Inc's manufacturing process, a number of ConforMIS Inc's knee replacement product systems were defective, and that as a result of the foregoing, ConforMIS Inc's public statements were materially false and misleading at all relevant times.
On August 31, 2015, ConforMIS Inc (NASDAQ:CFMS) announced that it has initiated a voluntary recall of specific serial numbers of patient-specific instrumentation for its iUni, iDuo, iTotal CR and iTotal PS knee replacement product systems. ConforMIS Inc said it has initiated this action in response to three recent complaints of moisture on the patient-specific instrumentation and that a total of approximately 950 patient-specific instrumentation sets are affected by this recall, of which approximately 650 sets were used in knee-implant procedures and approximately 300 sets have been shipped but not yet used in scheduled surgeries. Shares of ConforMIS Inc (NASDAQ:CFMS) declined to as low as $14.01 per share on September 2, 2015.
On September 18, 2015, NASDAQ:CFMS shares closed at $16.87 per share.
Those who purchased shares of ConforMIS Inc (NASDAQ:CFMS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego