The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Viewray, Inc. (NASDAQ: VRAY) who purchased shares between March 15, 2019 and August 8, 2019. The action, which was filed in the United States District Court for the Northern District of Ohio, alleges that the Company violated federal securities laws.
In particular, the Viewray lawsuit alleges that (a) demand for ViewRay systems had declined due in part to changes being made to Medicare reimbursement approaches first announced in November 2019 that could make purchases of new ViewRay systems less profitable for customers; (b) the Company’s reported backlog was overstated due to the inclusion of orders with insufficient surety as to permit for their inclusion in reported backlog; and (c) as a result of the foregoing, defendants’ positive statements about ViewRay’s business metrics and financial prospects during the Class Period were materially false and misleading and/or lacked a reasonable basis.
Shareholders have until November 12, 2019 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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