NEW YORK, Sept. 26, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds purchasers of IRadimed Corporation (Nasdaq: IRMD ) common stock between July 15, 2014 and September 2, 2014, of the important November 10, 2014 lead plaintiff deadline in the class action filed by the firm.
To join the IRadimed class action, go to the website at http://rosenlegal.com/cases-346.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action. The suit is pending in U.S. District Court for the Southern District of Florida.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, IRadimed failed to disclose that: (a) the Company's infusion pump systems had been significantly modified which could significantly affect the safety or effectiveness of the devices; (b) as such under applicable federal regulations the Company's products are "adulterated" and "misbranded"; (c) the Company's mRidium 3860+ infusion pump requires separate FDA clearance from the mRidium 3860 and mRidium 3850; and (d) the Company failed to disclose the material uncertainties and risks that their products were adulterated or misbranded.
On September 3, 2014, IRadimed Corporation shocked the market when it announced that it received a warning letter from the FDA. The warning letter requests that the Company immediately stop all activities that misbrand or adulterate its mRidium 3860 MRI infusion pump, mRidium 3850 MRI infusion pump, and the mRidium 3860+ MRI infusion pump, such as the commercial distribution of the device. This adverse news caused IRadimed Corporation's stock to fall $3.30 per share, or more than 30%, to close at $7.10 per share on September 3, 2014.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 10, 2014. If you wish to join the litigation go to http://rosenlegal.com/cases-346.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com .
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 www.rosenlegal.com
