The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of CorMedix Inc. (NASDAQ: CRMD) who purchased shares between October 16, 2019 and May 13, 2021. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the CorMedix lawsuit alleges that (i) deficiencies existed with respect to an investigational drug product, DefenCath’s, manufacturing process and/or at the facility responsible for manufacturing DefenCath; (ii) in light of the foregoing deficiencies, the Food and Drug Administration was unlikely to approve the DefenCath new drug application for catheter-related bloodstream infections 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.
Shareholders have until September 20, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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