Robbins Arroyo LLP Is Investigating the Officers and Directors of ConforMIS, Inc. (CFMS) on Behalf of Shareholders
Robbins Arroyo LLP is investigating whether certain officers and directors of ConforMIS, Inc. (NASDAQGS: CFMS) violated the Securities and Exchange Act of 1934. ConforMIS is a medical technology company that uses its iFit Image-to-Implant technology platform to develop, manufacture, and sell joint replacement implants that are individually sized and shaped to fit each patient’s unique anatomy.
ConforMIS Recalls Its Products
On July 1, 2015, ConforMIS stock opened for trading at $18.00 and sold 9 million shares of stock in its initial public offering. On August 31, 2015, ConforMIS issued a press release announcing that it had initiated a voluntary recall of specific serial numbers of patient-specific instrumentation for certain of its knee replacement product systems. ConforMIS instigated the recall in response to three recent complaints of moisture on the patient-specific instrumentation sets, 950 of which are affected by the recall. On this news, the company’s stock fell $4.23, or 21.4%, to close at $15.95 on August 31, 2015, a considerable drop from its share price of $26.93 just several weeks ago.
In light of this news, Robbins Arroyo LLP’s investigation focuses on whether ConforMIS and/or its officers misled shareholders by making false and misleading statements regarding the company’s business prospects.
ConforMIS Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.