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Lawsuit filed for Investors in shares of Viewray Inc (NASDAQ: VRAY)

09-24-2019 03:56 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Viewray Inc (NASDAQ: VRAY) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Viewray Inc (NASDAQ: VRAY) shares over alleged securities laws violations.

An investor, who purchased NASDAQ: VRAY shares, filed a lawsuit against Viewray Inc over alleged violations of Federal Securities Laws.

Investors who purchased shares of Viewray Inc (NASDAQ: VRAY) have certain options and for certain investors are short and strict deadlines running. Deadline: November 12, 2019. NASDAQ: VRAY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Oakwood Village, OH based ViewRay, Inc. designs, manufactures and markets MRIdian, the magnetic resonance imaging (MRI)-guided radiation therapy system to image and treat cancer patients simultaneously.

On May 2, 2019, ViewRay, Inc. announced financial results for the first quarter ended March 31, 2019. The Company reported a loss of $0.34 per share while analysts were expecting a per share loss of $0.22.
Then, on August 8, 2019, ViewRay, Inc.announced financial results for the second quarter ended June 30, 2019. ViewRay reported a quarterly loss of $0.32 per share versus analyst estimates of a loss of $0.23.

Shares of Viewray Inc (NASDAQ: VRAY) declined from $8.51 per share on August 5, 2019 to as low as $2.76 per share on August 9, 2019.

The plaintiff claims that between March 15, 2019 and August 8, 2019, that the demand for ViewRay systems had declined due in part to changes being made to Medicare reimbursement approaches first announced in November 2019 that could make purchases of new ViewRay systems less profitable for customers, that the Company’s reported backlog was overstated due to the inclusion of orders with insufficient surety as to permit for their inclusion in reported backlog, and that that as a result of the foregoing, defendants’ positive statements about ViewRay’s business metrics and financial prospects during the Class Period were materially false and misleading and/or lacked a reasonable basis.

Those who purchased shares of Viewray Inc (NASDAQ: VRAY) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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