NEW YORK, April 11, 2019 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Helius Medical Technologies, Inc. ("Helius" or the "Company") (NASDAQ: HSDT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Helius and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 10, 2019, Helius disclosed that the U.S. Food and Drug Administration ("FDA") had declined the Company's request for De Novo classification and clearance of its Portable Neuromodulation Stimulator device. The FDA stated that it lacked sufficient data to determine the relative contributions of the device and physical therapy in clinical studies. On this news, Helius's stock price fell $44.11 per share, or 66.18%, to close at $2.10 per share on April 10, 2019, damaging investors.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP