Law
Offices of Howard G. Smith announces an
investigation on behalf of investors of CorMedix, Inc. (NYSE: CRMD)
(“CorMedix” or “the Company”). The investigation concerns whether the
Company violated specific sections of the Securities Exchange Act of
1934 by issuing materially misleading information to the investing
public.
CorMedix is a pharmaceutical company that intends to in-license,
develop, and commercialize therapeutic products for the prevention and
treatment of cardiac, renal, and infectious diseases. On June 29, 2015,
SeekingAlpha.com published a report on CorMedix alleging, among other
things, that: (1) CorMedix’s only viable product in development is based
on a 1970s-era chemical product acquired for less than $1 million in a
bankruptcy sale; (2) CorMedix relies heavily on paid stock promoters to
pump the stock’s value; (3) CorMedix uses misleading clinical data to
hide the fact that its Neutrolin/Taurolidine product is a failure; and
(4) the Company is led by an alleged “wipeout artist,” and associated
with partners that have been barred from the securities business by
FINRA. On this news, shares of CorMedix fell $0.81 per share, or 16%, to
close on June 29, 2015 at $4.05 per share thereby damaging investors.
If you purchased Cormedix shares prior to June 29, 2015, have
information or 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 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,
or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150717005592/en/
Copyright Business Wire 2015