NEW YORK, Oct. 23, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of electroCore, Inc. (“electroCore” or the “Company”) (ECOR). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether electroCore and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
In June 2018, electroCore conducted its initial public offering (“IPO”), selling 5.98 million shares of common stock priced at $15.00 per share. On May 14, 2019, electroCore announced first quarter 2019 financial results that fell short of market expectations, reporting $410,000 in net sales and an operating loss of $14.2 million. On this news, electroCore’s stock price fell $1.58 per share, or 29.64%, to close at $3.75 per share on May 15, 2019.
Then, on September 25, 2019, electroCore disclosed that the U.S. Food and Drug Administration had requested additional information and analysis of clinical data in connection with electroCore’s 510(k) submission seeking an expanded indication for the use of gammaCore, the Company’s lead product. On this news, electroCore’s stock price fell $0.79 per share, or 23.51%, to close at $2.57 per share on September 25, 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.
Robert S. Willoughby
888-476-6529 ext. 9980