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The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Repro Med Systems, Inc. (NASDAQ: KRMD) who purchased shares between August 4, 2020 and January 25, 2021. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Repro Med Systems lawsuit alleges that (1) starting in January 2020, Repro Med Systems ramped up the use of allowances, including growth rebates, to retain key customers and to incentivize growth; (2) as the rebates accrued, the Company’s net sales were reasonably likely to decline; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until May 25, 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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