BENSALEM, Pa. -- (Business Wire)
Law
Offices of Howard G. Smith announces an investigation on behalf of
investors of ConforMIS, Inc. ("ConforMIS" or the "Company")
(NASDAQ:CFMS). The investigation concerns whether the Company violated
federal securities laws by issuing materially misleading information
regarding its internal controls, manufacturing and compliance practices.
Investors that have purchased ConforMIS securities are encouraged to
contact Howard G. Smith, Esq. to discuss their legal rights.
On August 31, 2015, ConforMIS disclosed that the Company has started a
voluntary recall of almost 1,000 instrument sets used with certain of
its knee-replacement product systems in response to recent complaints of
moisture. The Company further disclosed that it has temporarily
suspended use of a ethylene oxide sterilization process believed to be
tied to issue; and that it sees manufacturing “substantially reduced” in
September and October 2015 as its investigation is completed. ConforMIS
now expects a negative effect on sales, and sees 2015 revenues in the
range of $64m-$66m, versus a previous revenue range of $72m-$74m. On
this news shares of ConforMIS fell $3.78 to close on August 31, 2015 at
$16.00, a one day decline of 19% on volume of over 2 million shares.
If you purchased ConforMIS securities, have information or would like to
learn more about these claims, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at 215-638-4847, toll-free at 888-638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150902006292/en/
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Source: Law Offices of Howard G. Smith
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