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Shareholder Alert: Robbins LLP Is Investigating the Officers and Directors of Ra Medical Systems, Inc. (RMED) on Behalf of Shareholders

November 20, 2019 GMT

SAN DIEGO & CARLSBAD, Calif.--(BUSINESS WIRE)--Nov 20, 2019--

Shareholder rights law firm Robbins LLP is investigating whether certain officers and directors of Ra Medical Systems, Inc. (NYSE: RMED) violated federal securities law. Ra Medical Systems is a commercial-stage medical device company.

If you suffered a loss as a result of Ra Medical’s misconduct, click here.

Ra Medical Systems, Inc. (RMED) Reveals Code of Ethics Violations

On October 31, 2019, Ra Medical announced that it had substantially completed its internal investigation of allegations raised by an employee. As a result of the investigation, the Audit Committee discovered “certain behaviors inconsistent with the Company’s Code of Ethics and Conduct and related policies involving certain current and former executive officers and employees.” Among these behaviors included the instruction of Ra Medical’s salespeople to characterize its DABRA catheter as performing atherectomy, despite atherectomy not being part of DABRA’s clearance, and a lack of documentation to support certain payments to physicians, including $300,000 of payments that could be perceived as an improper attempt to obtain business or gain special advantage. Additionally, in October 2019, the Department of Justice provided Ra Medical with a Civil Investigative Demand seeking information with respect to a False Claims Act investigation concerning whether it fraudulently obtained 510(k) marketing clearance for DABRA. Due to the investigations, on November 18, 2019, Ra Medical filed a Notification of Late Filing with the SEC for its Form 10-Q.

Ra Medical Systems, Inc. (RMED) Shareholders Have Legal Options

Contact us to learn more:
Leo Kandinov
(800) 350-6003
LKandinov@robbinsarroyo.com
Shareholder Information Form

Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click Here to receive free alerts from Stock Watch when companies engage in wrongdoing.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191120005805/en/

CONTACT: Leonid Kandinov

Robbins LLP

5040 Shoreham Place

San Diego, CA 92122

LKandinov@robbinsllp.com

(619) 525-3990 or Toll Free (800) 350-6003

www.robbinsllp.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Robbins LLP

Copyright Business Wire 2019.

PUB: 11/20/2019 01:07 PM/DISC: 11/20/2019 01:06 PM

http://www.businesswire.com/news/home/20191120005805/en