SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Ekso Bionics Holdings, Inc. (EKSO) & Lead Plaintiff Deadline - March 5, 2018
NEW YORK, NY / ACCESSWIRE / February 1, 2018 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Ekso Bionics Holdings, Inc. ("Ekso" or the "Company") (EKSO) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Ekso securities between March 15, 2017, and December 27, 2017, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/ekso.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Ekso had a material weakness in its internal control over financial reporting; (2) accordingly, Ekso's disclosure controls and procedures were not effective; and (3) as a result of the foregoing, Ekso's public statements were materially false and misleading at all relevant times.
On December 14, 2017, Ekso filed a current report on Form 8-K with the SEC, advising investors that ''the Company's internal control over financial reporting as of December 31, 2016, should no longer be relied upon and that a material weakness in the Company's internal control over financial reporting existed as of such date.'' Specifically, Ekso stated that its announcement was due to a reevaluation of the Company's information technology (''IT'') controls by OUM & Co. LLP (''OUM''), the Company's auditor. Ekso stated that it intended ''to amend our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and our Quarterly Reports on Form 10-Q for the periods ended March 31, 2017, June 30, 2017 and September 30, 2017 to reflect the conclusion by management that there was a material weakness in internal control over financial reporting and that our disclosure controls and procedures were not effective as of the end of the periods covered by these reports.'' On this news, Ekso's share price fell $0.15, or 6.17%, to close at $2.28 on December 15, 2017.
On December 27, 2017, post-market, Ekso filed an amended annual report for 2016 and amended quarterly reports for the first three quarters of 2017 on Form 10-Q. On this news, Ekso's share price fell $0.34, or over 13%, to close at $2.23 on December 28, 2017.
A class action lawsuit has already been filed. You can review a copy of the Complaint at www.bgandg.com/ekso or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Ekso you have until March 5, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
