Thursday, August 27, 2020 7:11:00 AM
U.S. Court of Appeals Dismisses Securities Lawsuit Against ReWalk Robotics
7:00 am ET August 27, 2020 (Globe Newswire)
ReWalk Robotics, Ltd. (Nasdaq: RWLK) ("ReWalk" or the "Company"), a leading manufacturer of robotic medical devices for individuals with lower limb disabilities, today announced that the U.S. Court of Appeals for the First Circuit dismissed a class action lawsuit filed in 2017 against ReWalk.
The lawsuit alleged that ReWalk violated the Securities Act of 1933 ("Securities Act") and Securities Exchange Act of 1934 ("Exchange Act") by misrepresenting itself in the Company's initial public offering in September of 2014 and in public statements made after its IPO.
In its decision, the Court of Appeals agreed with the U.S. District Court decision, dismissing the Securities Act claims for failure to state a claim. The lower court decision had found that the plaintiffs did not have standing to bring the Exchange Act claims. Although the appeals court disagreed on the standing issue, it determined that no claim was stated against the Company for a violation of the Exchange Act and the years-long case was ultimately dismissed.
"Justice was served in the dismissal of this action, both in the District and Appeals Courts," said ReWalk CEO Larry Jasinski. "These decisions are consistent with our expectations and that of our counsel. Removal of this lingering concern allows the Company to focus more effectively our energies on our commercial activities of expanding reimbursement, helping more members of the disabled community and in continuing to improve our financial position." Douglas Baumstein, partner at White and Case LLP, which represented the Company in the litigation, stated that, "We are very pleased with the court's ruling, which vindicates our defense and demonstrates that ReWalk made accurate disclosures to the market."
The U.S. Court of Appeals issued the decision on August 25, 2020.
Recent RWLK News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/04/2024 11:37:54 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/04/2024 09:39:27 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 08/26/2024 08:14:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/15/2024 12:15:14 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 09:01:03 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 08/09/2024 08:30:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/06/2024 01:07:40 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 07/29/2024 12:48:04 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 07/19/2024 08:30:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/02/2024 09:02:18 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/02/2024 08:53:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/28/2024 08:42:22 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/28/2024 12:30:01 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/15/2024 01:00:51 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/15/2024 12:15:21 PM
- Form 10-K/A - Annual report [Section 13 and 15(d), not S-K Item 405]: [Amend] • Edgar (US Regulatory) • 04/29/2024 12:30:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 04/22/2024 08:16:29 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 04/22/2024 08:15:27 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 04/19/2024 12:46:30 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 04/04/2024 01:01:24 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 04/03/2024 11:34:09 AM
- VA STAND Act introduced in the United States Senate • GlobeNewswire Inc. • 03/22/2024 12:30:00 PM
- Lifeward Announces Reverse Share Split • GlobeNewswire Inc. • 03/13/2024 03:45:17 PM
- ReStore Exo-Suit Publications Demonstrate Improved Walking Outcomes Versus Conventional Stroke Therapy • GlobeNewswire Inc. • 03/08/2024 01:30:00 PM
- Lifeward announces the Centers for Medicare & Medicaid Services (“CMS”) is deferring its final decision on the payment rate for personal exoskeletons so that more recent claims information on the current, more advanced ReWalk Personal Exoskeleton may b • GlobeNewswire Inc. • 03/01/2024 01:45:11 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM