SAN DIEGO, June 23, 2019 /PRNewswire/ -- Shareholder
Rights Law Firm Johnson Fistel, LLP with the assistance of former
California Deputy Attorney General
and Special Counsel, Tiffany Johnson,
Esq., is investigating potential claims against electroCore,
Inc. ("electroCore") (NASDAQ: ECOR) for violations of federal
securities laws.
On or about June 22, 2018,
electroCore sold 5.2 million shares of stock in its initial public
stock offering (the "IPO"), at $15 a
share raising $78,000,000 in new
capital. However, since the IPO, electroCore stock has
plummeted, on June 21, 2019, the
stock closed at $2.12.
On May 14, 2019, the Company
announced disappointing financial results for the first quarter of
2019. Operating loss for the first quarter of 2019 was $14.2 million as compared to an operating loss of
$9.1 million in the first quarter of
2018.
Then on May 29, 2019, the Company's announced a
restructuring and cost-cutting plan. As part of the initiative,
Chief Executive Officer, Francis
Amato, agreed to a 10% cut in his base salary. Less than two
weeks later, on June 10, 2019,
electroCore announced that Frank
Amato would be stepping down as Chief Executive Officer.
Specifically, Johnson Fistel's
investigation seeks to determine whether electroCore Company's
filings with the U.S. Securities and Exchange Commission related to
the stock offering contained untrue statements of material facts or
omitted to state other facts necessary to make the statements made
therein not misleading.
If you have information that could assist in this
investigation, including past employees and others, or if you are
an electroCore shareholder and are interested in learning more
about the investigation or your legal rights and remedies, please
contact Jim Baker
(jimb@johnsonfistel.com) by email or phone at 619-814-4471. If
emailing, please include a phone number.
Additionally, you can [click here to join this
action]. There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[click here to join this action].
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SOURCE Johnson Fistel, LLP