An investigation on behalf of investors in CorMedix Inc. (NASDAQ:CRMD) shares over potential wrongdoing at CorMedix Inc. was announced.
San Diego, CA -- (SBWIRE) -- 11/04/2022 -- Certain directors of CorMedix Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of CorMedix Inc. (NASDAQ: CRMD) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain CorMedix Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
On July 22, 2021, a lawsuit was filed against CorMedix Inc. over alleged Securities Laws Violations. The plaintiff claimed that between July 8, 2020 and May 13, 2021, the Defendants made material misrepresentations concerning the following: (i) deficiencies existed with respect to DefenCath's manufacturing process and/or at the facility responsible for manufacturing DefenCath; (ii) in light of the foregoing deficiencies, the FDA was unlikely to approve the DefenCath NDA for CRBSIs in its present form; (iii) Defendants had downplayed the true scope of the deficiencies with DefenCath's manufacturing process and/or at the facility responsible for manufacturing DefenCath; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
On December 14, 2021, a consolidated complaint was filed and on February 21, 2022, the defendants filed and on March 28, 2022 refiled their motion to dismiss the complaint.
On April 27, 2022, an opposition to the Defendants' motions to dismiss on April 27, 2022 was filed and on May 26, 2022, the defendants filed their reply brief.
Those who purchased shares of CorMedix Inc. (NASDAQ: CRMD) have certain options and should contact the Shareholders Foundation.
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