STEVENSON, Md., July 16, 2018 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of a class who purchased Restoration Robotics, Inc. (Nasdaq: HAIR ) (“Restoration” or the “Company”) common stock pursuant to the initial public offering commenced on October 12, 2017 and closed on October 16, 2017 (the “IPO”). Investors who wish to become proactively involved in the litigation have until August 21, 2018 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Restoration’s October 12, 2017 IPO and/or during the Class Period. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the defendants’ failure to disclose in connection with the Company’s IPO that the continued delay in the preparation and launch of the ARTAS system, which assists physicians in performing many of the repetitive tasks that are a part of a follicular unit extraction surgery, would cause customers to forego purchasing the existing system in favor of waiting, that the Company was not equipped with a sufficient salesforce to effectively grow the business, and that the Company did not have sufficient capital to fund its planned operations.
According to the complaint, since the IPO, the value of Restoration shares has declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Restoration’s October 12, 2017 IPO and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
