November 25, 2019 Deadline: Kaskela Law LLC Announces Investor Class Action Lawsuit Against electroCore, Inc. (ECOR) and Encourages Investors to Contact the Firm
PHILADELPHIA--(BUSINESS WIRE)--Nov 25, 2019--
Kaskela Law LLC announces that an investor class action lawsuit has been filed against electroCore, Inc. (“electroCore” or the “Company”) (NASDAQ: ECOR) on behalf of certain investors.
electroCore investors who purchased shares of the Company’s stock between June 21, 2018 and May 14, 2019 are encouraged to contact Kaskela Law LLC at (888) 715–1740, or online at http://kaskelalaw.com/case/electrocore-inc/, for additional information about this action and their legal rights and options.
electroCore is a commercial-stage bioelectronic medicine company focused on non-invasive vagus nerve stimulation (“VNS”) therapy. The Company is developing gammaCore, a prescription-only non-invasive VNS therapy for the acute treatment of pain associated with migraine and episodic cluster headache in adults.
On or about June 21, 2018, electroCore completed its initial public offering (“IPO”) of common stock, selling 5.2 million shares of stock to investors at $15.00 per share.
On May 14, 2019, the Company announced first quarter 2019 financial and operational results, which included a quarterly operating loss of $14.2 million. Following this news, shares of electroCore’s stock declined nearly 30% in value, to close on May 15, 2019 at $3.75 per share.
Then, on September 25, 2019, the Company disclosed that the U.S. Food and Drug Administration (“FDA”) “has requested more information and analysis of the clinical data included in the Company’s premarket notification, or ‘510(k)’ submission, seeking an expanded indication for the use of gammaCore.” On this news, shares of electroCore’s stock fell an additional 23% in value, to close on September 25, 2019 at $2.57 per share.
IMPORTANT DEADLINE: electroCore investors may, no later than November 25, 2019, seek to be appointed as a lead plaintiff of the investor class. Investors are encouraged to contact Kaskela Law LLC prior to the deadline to receive additional information about this action.
Kaskela Law LLC exclusively represents investors in securities fraud and shareholder rights litigation in state and federal actions. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191125005528/en/
CONTACT: KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
Attn: D. Seamus Kaskela, Esq.
KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Kaskela Law LLC
Copyright Business Wire 2019.
PUB: 11/25/2019 10:10 AM/DISC: 11/25/2019 10:10 AM