Law
Offices of Howard G. Smith reminds investors of the September 4,
2015 lead plaintiff deadline in the class action lawsuit filed on
behalf of a class comprising purchasers of the securities of CorMedix,
Inc. (NYSE: CRMD) (“CorMedix” or “the Company”) who purchased the
Company’s securities between March 12, 2011 and June 29, 2015, inclusive
(the “Class Period”).
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.
The complaint alleges that throughout the Class Period, defendants made
false and/or misleading statements, as well as failed to disclose
material adverse facts about the Company’s business, operations, and
prospects. Specifically, defendants made false and/or misleading
statements and/or failed to disclose, among others: (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 news of the alleged wrongdoing of its executives and misleading
statements by the Company, 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 shares of CorMedix during the Class Period, if you have
information or would like to learn more about these claims, or have any
questions concerning this announcement, 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/20150902006129/en/
Copyright Business Wire 2015