Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Northern District of Ohio on behalf of shareholders of Viewray, Inc. who purchased shares between March 15, 2019 and August 8, 2019.
ViewRay and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 8, 2019, post-market, ViewRay disclosed disappointing 2Q2019 results including a net loss of $30.8 million, declining levels of orders and backlog and other operational issues and also announced significant cuts to full fiscal year 2019 guidance.
On this news, the price of ViewRay’s shares plummeted by more than 50% on unusually high trading volume.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until November 12, 2019 to request that the court appoint them lead plaintiff.