NEW YORK, May 02, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of CVRx, Inc. (“CVRx” or the “Company”) (NASDAQ: CVRX). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether CVRx and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 30, 2024, CVRx issued a press release reporting its financial and operating results for the first quarter of 2024. Among other items, CVRx reported a net loss per share of $1.04 on revenue of $10.8 million, compared to analyst expectations of a net loss per share of $0.54 on revenue of $11.37 million. In the press release announcing the Company’s results, CVRx’s President and Chief Executive Officer described “some commercial execution challenges in our U.S. Heart Failure business during our recent management transition in February.”
On this news, CVRX’s stock price fell $5.39 per share, or 34.75%, to close at $10.12 per share on May 1, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
