NEW YORK, June 24, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces it is investigating potential securities claims on behalf of shareholders of electroCore, Inc. (ECOR) (“electroCore”) concerning the possible violations of federal and/or state securities laws.
On June 21, 2018, electroCore issued its initial public offering (“IPO”) in which it sold 5.2 million shares of its common stock at $15.00 per share to investors.
Recently, on May 14, 2019, electroCore announced disappointing financial results for the first
quarter 2019. On this news, electroCore’s share price fell $1.58, almost 30%, to close at $3.72 on May 15, 2019.
Then on May 29, 2019, the Company's announced a restructuring and cost-cutting plan. As part of the initiative, Chief Executive Officer, Francis Amato, agreed to a 10% cut in his base salary. Less than two weeks later, on June 10, 2019, electroCore announced that Frank Amato would be stepping down as Chief Executive Officer.
electroCore securities are currently trading at $1.86 per share, approximately 88% below the IPO price.
If you purchased and incurred losses in shares of electroCore, Inc. directly on the IPO or in the aftermarket subsequent to the IPO, please call Gregory Stone at (800) 575-0735 or (212) 545-4774, or email to firstname.lastname@example.org.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this investigation or have any questions regarding your rights and interests in this matter, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com.
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