LOS ANGELES, CA / ACCESSWIRE / May 31, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Rockwell Medical, Inc. ("Rockwell Medical" or the "Company") (NASDAQ: RMTI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On May 22, 2018, Rockwell Medical announced that effective immediately, the President and Chief Executive Officer of the company, Robert Chioini, had been terminated. On May 23, 2018, a letter to shareholders on behalf of Mr. Chioini was published outlining an emergency board meeting called by Mr. Chioini for the purpose of discussing a shareholder demand letter alleging breaches of fiduciary duties and other possible violations of securities laws by Rockwell Medical directors. The shareholder demand letter also stated that the directors whose conduct and actions were the subject of alleged breaches of fiduciary duties asserted that they voted to terminate Mr. Chioini. The letter to shareholders added that Mr. Chioini "continues to serve as the CEO consistent with the terms of his employment agreement." On May 24, 2018, trading in Rockwell Medical shares was halted.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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CONTACT:
The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
www.schallfirm.com
SOURCE: The Schall Law Firm
