U.S. Court of Appeals Dismisses Securities Lawsuit Against ReWalk Robotics
ReWalk Robotics Ltd. - Ordinary Shares (RWLK)
Last rewalk robotics ltd. - ordinary shares earnings: 2/20 07:45 am
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Source: GlobeNewswire
MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILIT, Israel, Aug. 27, 2020 (GLOBE NEWSWIRE) -- ReWalk Robotics, Ltd. (Nasdaq: RWLK) ("ReWalk" or the "Company"), a leading manufacturer of robotic medical devices for individuals with lower limb disabilities, today announced that the U.S. Court of Appeals for the First Circuit dismissed a class action lawsuit filed in 2017 against ReWalk. The lawsuit alleged that ReWalk violated the Securities Act of 1933 (“Securities Act”) and Securities Exchange Act of 1934 (“Exchange Act”) by misrepresenting itself in the Company’s initial public offering in September of 2014 and in public statements made after its IPO. In its decision, the Court of Appeals agreed with the U.S. District Court decision, dismissing the Securities Act claims for failure to state a claim. The lower court decision had found that the plaintiffs did not have standing to bring the Exchange Act claims. Although the appeals court disagreed on the standing issue, it determined th
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