NEW YORK, Nov. 08, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of electroCore, Inc. (ECOR) pursuant and/or traceable to the company`s June 2018 Initial Public Offering (“IPO”) and/or from June 22, 2018 through September 25, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for electroCore, Inc. investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than November 25, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
To join the class action, go http://zhanginvestorlaw.com/join-action-form/?slug=electrocore-inc&id=2080 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email email@example.com for information on the class action.
According to the lawsuit, throughout the Class Period, defendants and its senior executives presented false and misleading financial statements or omitted to disclose: (1) the Company’s lead product, gammaCore, did not enjoy any advantages over other acute treatments for migraines and episodic cluster headaches; (2) as a result, doctors and patients were unlikely to adopt gammaCore over existing treatments; (3) the Company’s voucher program was not effective to increase adoption of gammaCore; (4) the Company lacked sufficient resources to successfully commercialize gammaCore; (5) the Company’s business plan and strategy was not sustainable because electroCore lacked sufficient revenue to be profitable; (6) the Company’s product registry and efforts were ineffective to initiate reimbursement policies by commercial payors for gammaCore; (7) the lack of reimbursement would materially impact adoption and sales of gammaCore; and (8) as a result, electroCore’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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