Class Action Lawsuit on Behalf of CorMedix Investors
CorMedix Lawsuit Details
Gilman Law LLP has announced that on July 7, 2015 a federal securities class action lawsuit was filed on behalf of purchasers of CorMedix, Inc. (NASDAQ: CRMD) common stock between March 12, 2011 and June 29, 2015. The complaint alleges false and/or misleading statements and/or omissions relating to, among other matters, the company’s deception of investors about the market potential of its sole product-Neutrolin and failure to inform investors of some company founders facing prior fraud allegations. According to the complaint, the online investment newsletter, Seeking Alpha, ran a story that stated Neutrolin’s performance in clinical trials was greatly overstated and that CorMedix used stock promoters to inflate the company’s share price. The article also stated some company founders had faced fraud accusations in the past. As a result of the article, CorMedix fell 81 cents, over 16.6%, to close at $4.05 on June 29, 2015.
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