NEW YORK, March 31, 2021 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Repro Med Systems, Inc. (“Repro Med”) (NASDAQ: KRMD) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Repro Med between August 4, 2020 and January 25, 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) starting in January 2020, Repro ramped up the use of allowances, including growth rebates, to retain key customers and to incentivize growth; (2) as the rebates accrued, Repro’s net sales were reasonably likely to decline; and (3) as a result of the foregoing, Defendants’ positive statements about Repro’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Investors who purchased or otherwise acquired shares of Repro Med during the Class Period should contact the Firm prior to the May 25, 2021 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
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