NEW YORK, NY / ACCESSWIRE / July 22, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Helius Medical Technologies, Inc. (“Helius” or the “Company”) (HSDT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Helius and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 25, 2019, Helius announced receipt of a request for additional data and information from the U.S. Food and Drug Administration (“FDA”) related to the Company’s request for de novo classification and 510(k) clearance of its Portable Neuromodulation Stimulator (“PoNS”) device. On this news, Helius’s stock price fell $0.48 per share, or approximately 6%, to close at $7.13 per share on January 25, 2019.
Then, on April 10, 2019, Helius disclosed that the FDA had denied regulatory clearance of the PoNS device because the Company had failed to provide sufficient clinical data to show that the device was effective. On this news, Helius’s stock price fell $4.11, or more than 66%, to close at $2.10 per share on April 10, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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