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NASDAQ: CRMD Investor Notice: Update in Lawsuit against CorMedix Inc. announced

09-16-2022 02:25 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit is pending for certain investors in CorMedix Inc. (NASDAQ: CRMD) shares.

A lawsuit is pending for certain investors in CorMedix Inc. (NASDAQ: CRMD) shares.

The Shareholders Foundation announced an update in the lawsuit that is pending for certain investors in shares of CorMedix Inc. (NASDAQ: CRMD).

Investors who purchased shares of CorMedix Inc. (NASDAQ: CRMD) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On July 22, 2021, a lawsuit was filed against CorMedix Inc. over alleged Securities Laws Violations. The plaintiff claimed that between July 8, 2020 and May 13, 2021, the Defendants made material misrepresentations concerning the following: (i) deficiencies existed with respect to DefenCath's manufacturing process and/or at the facility responsible for manufacturing DefenCath; (ii) in light of the foregoing deficiencies, the FDA was unlikely to approve the DefenCath NDA for CRBSIs in its present form; (iii) Defendants had downplayed the true scope of the deficiencies with DefenCath's manufacturing process and/or at the facility responsible for manufacturing DefenCath; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

On December 14, 2021, a consolidated complaint was filed and on February 21, 2022, the defendants filed and on March 28, 2022 refiled their motion to dismiss the complaint.

On April 27, 2022, an opposition to the Defendants' motions to dismiss on April 27, 2022 was filed and on May 26, 2022, the defendants filed their reply brief.

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

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 lawsuits, 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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