The Shareholders Foundation announced that a deadline is coming up on August 1, 2016 in the lawsuit filed for investors of Transenterix Inc (NYSEMKT:TRXC) over alleged securities laws violations by Transenterix Inc.
Investors who purchased shares of Transenterix Inc (NYSEMKT:TRXC) have certain options and there are strict and short deadlines running. Deadline: August 1, 2016. NYSEMKT:TRXC stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
OnJune 1, 2015, Transenterix Inc announced that it had submitted its 510(k) application to the United States Food and Drug Administration (“FDA”) seeking “substantial equivalence” approval that would enable TransEnterix to begin marketing and selling the SurgiBot in the United States.
The plaintiff alleges on behalf of purchasers of Transenterix Inc (NYSEMKT:TRXC) common shares between February 10, 2016 and May 10, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 10, 2016 and May 10, 2016 the defendants allegedly failed to disclose deficiencies within the Company’s 510(k) submission regarding the SurgiBot that undermined the likelihood that the SurgiBot would receive FDA clearance, which would leave the Company unable to commercialize the SurgiBot in 2016 and would impair the Company’s ability to obtain approval for and commercialize its other robotic surgery platform in the United States and that as a result of these false statements and/or omissions, TransEnterix common stock traded at artificially inflated prices February 10, 2016 and May 10, 2016, reaching as high as $5.69 per share.
On April 20, 2016, Transenterix Inc announced that the Food and Drug Administration (“FDA”) notified Transenterix Inc on April 19, 2016 of its determination that the “SurgiBot™ System does not meet the criteria for substantial equivalence based upon the data and information submitted by TransEnterix in its 510(k) submission.” Shares of Transenterix Inc (NYSEMKT:TRXC) declined to a slow as $1.28 per share on April 21, 2016.
Those who purchased NYSEMKT:TRXC shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com