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SAN DIEGO -- (Business Wire)
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating
potential violations of the federal securities laws by ConforMIS, Inc.
(NASDAQ:CFMS) and certain of its officers and directors. ConforMIS is a
medical technology company that uses its proprietary iFit
Image-to-Implant technology to develop, manufacture and sell joint
replacement implants that are individually sized and shaped to fit each
patient's unique anatomy.
Specifically, Johnson & Weaver’s investigation seeks to determine
whether certain statements regarding ConforMIS’s business and prospects
were false and misleading when made.
On July 1, 2015, ConforMIS stock opened for trading at $18.00, the same
day that the Company sold 9.0 million shares of stock in its initial
public stock offering (“IPO”). However, in early morning trading on
August 31, 2015, just two months after its IPO, ConforMIS common stock
has dropped below $16.00 per share. ConforMIS shares have traded as high
as $26.93 just several weeks ago.
ConforMIS’s stock price decline resulted from a Company issued press
release on August 31, 2015 announcing that it had initiated a voluntary
recall of specific serial numbers of patient-specific instrumentation
for its iUni, iDuo, iTotal CR and iTotal PS knee replacement product
systems. ConforMIS instigated the recall in response to three recent
complaints of moisture on the patient-specific instrumentation.
If you have information that could assist in this investigation, or
if you are a ConforMIS shareholder and are interested in learning more
about the investigation or your legal rights and remedies, please
contact Jim Baker (jimb@johnsonandweaver.com) by
email or by phone at 619-814-4471. If emailing, please include a phone
number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California, New York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more information
about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150831005842/en/
Contacts:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
Source: Johnson & Weaver, LLP
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