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LOS ANGELES, Feb. 08, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Helius Medical Technologies, Inc. (“Helius” or “the Company”) (NASDAQ: HSDT) 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. White Diamond Research published an article on January 22, 2019, which stated that Helius’ phase III drug trial “missed its primary effectiveness endpoint.” The report also stated that the Company “has redacted important trial info.” White Diamond research also questioned the veracity of the Company’s management team, alleging that the Company’s founders “have a history of questionable marketing practices,” and adding that the Company’s former CEO “is now a fugitive.” Based on this news, shares of Helius fell by more than 11.6% in the next two trading days.
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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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The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
The Schall Law Firm