{"id":469307,"date":"2021-03-31T21:03:05","date_gmt":"2021-04-01T01:03:05","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469307"},"modified":"2021-03-31T21:03:05","modified_gmt":"2021-04-01T01:03:05","slug":"repro-med-alert-bragar-eagel-squire-p-c-announces-that-a-class-action-lawsuit-has-been-filed-against-repro-med-systems-inc-and-encourages-investors-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/repro-med-alert-bragar-eagel-squire-p-c-announces-that-a-class-action-lawsuit-has-been-filed-against-repro-med-systems-inc-and-encourages-investors-to-contact-the-firm\/","title":{"rendered":"REPRO MED ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Repro Med Systems, Inc. and Encourages Investors to Contact the Firm"},"content":{"rendered":"

<\/p>\n

REPRO MED ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Repro Med Systems, Inc. and Encourages Investors to Contact the Firm<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nBragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Repro Med Systems, Inc. d\/b\/a KORU Medical Systems (NASDAQ: KRMD) securities between August 4, 2020 and January 25, 2021, inclusive (the \u201cClass Period\u201d). Investors have until May 25, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.\n<\/p>\n

\nClick here<\/a> to participate in the action.\n<\/p>\n

\nKORU designs, manufactures, and markets proprietary portable medical devices, primarily for the ambulatory infusion market.\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 fell $1.97, or 32%, to close at $4.16 per share on November 4, 2020.\n<\/p>\n

\nOn 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 per share, or 15.5%, to close at $4.33 per share on January 26, 2021.\n<\/p>\n

\nThe complaint, filed on March 26, 2021, 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 Repro Med securities during the Class Period and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com<\/a>, telephone at (212) 355-4648, or by filling out this contact form.<\/a> There is no cost or obligation to you.\n<\/p>\n

About Bragar Eagel & Squire, P.C.:<\/b><\/p>\n

\nBragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com<\/a>. Attorney advertising. Prior results do not guarantee similar outcomes.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210331006001\/en\/<\/a><\/span><\/p>\n

\nBragar Eagel & Squire, P.C.
\n
Brandon Walker, Esq.
\n
Melissa Fortunato, Esq.
\n
Marion Passmore, Esq.
\n
(212) 355-4648
\n
investigations@bespc.com
\n<\/a>
www.bespc.com<\/a><\/p>\n

KEYWORDS:<\/b> California New York United States North America<\/p>\n

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

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

REPRO MED ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Repro Med Systems, Inc. and Encourages Investors to Contact the Firm NEW YORK–(BUSINESS WIRE)– Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Repro Med Systems, Inc. d\/b\/a KORU Medical Systems (NASDAQ: KRMD) securities between August 4, 2020 and January 25, 2021, inclusive (the \u201cClass Period\u201d). Investors have until May 25, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in … <\/p>\n

Continue reading “REPRO MED ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Repro Med Systems, Inc. and Encourages Investors to Contact the Firm”<\/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-469307","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nREPRO MED ALERT: Bragar Eagel & Squire, P.C. 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