NEW YORK, Nov. 13, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of electroCore, Inc. (NASDAQ: ECOR) pursuant and/or traceable to the company`s June 2018 Initial Public Offering (“IPO”) and/or from June 22, 2018 through September 25, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for electroCore, Inc. investors under the federal securities laws.
To join the class action, go http://pawarlawgroup.com/cases/electrocore-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company’s lead product, gammaCore, did not enjoy any advantages over other acute treatments for migraines and episodic cluster headaches; (2) as a result, doctors and patients were unlikely to adopt gammaCore over existing treatments; (3) the Company’s voucher program was not effective to increase adoption of gammaCore; (4) the Company lacked sufficient resources to successfully commercialize gammaCore; (5) the Company’s business plan and strategy was not sustainable because electroCore lacked sufficient revenue to be profitable; (6) the Company’s product registry and efforts were ineffective to initiate reimbursement policies by commercial payors for gammaCore; (7) the lack of reimbursement would materially impact adoption and sales of gammaCore; and (8) as a result, electroCore’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 25, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1410
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com