{"id":468850,"date":"2021-03-31T12:03:25","date_gmt":"2021-03-31T16:03:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=468850"},"modified":"2021-03-31T12:03:25","modified_gmt":"2021-03-31T16:03:25","slug":"deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-repro-med-systems-inc-d-b-a-koru-medical-systems-krmd","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-repro-med-systems-inc-d-b-a-koru-medical-systems-krmd\/","title":{"rendered":"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Repro Med Systems, Inc. d\/b\/a KORU Medical Systems (KRMD)"},"content":{"rendered":"

<\/p>\n

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Repro Med Systems, Inc. d\/b\/a KORU Medical Systems (KRMD)<\/b><\/p>\n

BENSALEM, Pa.–(BUSINESS WIRE<\/a>)–
\nLaw Offices of Howard G. Smith reminds investors of the upcoming May 25, 2021 <\/b>deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Repro Med Systems, Inc. d\/b\/a KORU Medical Systems (\u201cKORU\u201d or the \u201cCompany\u201d) (NASDAQ: KRMD<\/a>) securities between August 4, 2020 and January 25, 2021<\/b>, inclusive (the \u201cClass Period\u201d).\n<\/p>\n

\nInvestors suffering losses on their KORU investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com<\/a>.\n<\/p>\n

\nOn November 3, 2020, after the market closed, KORU announced its third quarter 2020 financial results, reporting that net sales declined sequentially to $6.1 million. During the conference call the next day, the Company attributed the lower sales to, among other things, \u201chigher allowances for gross rebates for certain customers\u201d and \u201cpayment discounts and distribution fees.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $1.97, or 32%, to close at $4.16 per share on November 4, 2020, on unusually heavy trading volume.\n<\/p>\n

\nThen, on January 25, 2021, after the market closed, KORU announced its preliminary financial results for fiscal 2020, expecting revenue of approximately $24.0 million, an increase of 3.4% over the prior year. The Company attributed the results to, among other things, \u201c[s]lower growth in net revenue as a result of strengthening our contractual position with large customers.\u201d In the press release, KORU also announced that its CEO, Donald Pettigrew, resigned, effective immediately.\n<\/p>\n

\nOn this news, KORU\u2019s stock price fell $0.80, or 15.5%, to close at $4.33 per share on January 26, 2021, on unusually heavy trading volume.\n<\/p>\n

\nThe complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) starting in January 2020, KORU ramped up the use of allowances, including growth rebates, to retain key customers and to incentivize growth; (2) as the rebates accrued, the Company\u2019s net sales were reasonably likely to decline; and (3) as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\n<\/p>\n

\nIf you purchased or otherwise acquired KORU securities during the Class Period, you may move the Court no later than May 25, 2021 <\/b>to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com<\/a>, or visit our website at www.howardsmithlaw.com<\/a>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210331005120\/en\/<\/a><\/span><\/p>\n

\nLaw Offices of Howard G. Smith
\n
Howard G. Smith, Esquire
\n
215-638-4847
\n
888-638-4847
\n
howardsmith@howardsmithlaw.com
\n<\/a>
www.howardsmithlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Pennsylvania<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Repro Med Systems, Inc. d\/b\/a KORU Medical Systems (KRMD) BENSALEM, Pa.–(BUSINESS WIRE)– Law Offices of Howard G. Smith reminds investors of the upcoming May 25, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Repro Med Systems, Inc. d\/b\/a KORU Medical Systems (\u201cKORU\u201d or the \u201cCompany\u201d) (NASDAQ: KRMD) securities between August 4, 2020 and January 25, 2021, inclusive (the \u201cClass Period\u201d). Investors suffering losses on their KORU investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by … <\/p>\n

Continue reading “Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Repro Med Systems, Inc. d\/b\/a KORU Medical Systems (KRMD)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-468850","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nDeadline Reminder: Law Offices of Howard G. 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