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Ekso Bionics Holdings Inc (NASDAQ: EKSO) Investor Securities Class Action Lawsuit 01/02/2018

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Lawsuit Overview

Case Dismissed
Company
Ekso Bionics Holdings, Inc.
Security
NASDAQ: EKSO

Case Name
Ekso Bionics Shareholder Class Action Lawsuit 01/02/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of California

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

November 29, 2018 - The case was voluntarily dismissed.

March 20, 2018 - The case was transferred to the U.S. District Court for the Northern District of California.

January 2, 2018 - An investor in shares of Ekso Bionics Holdings Inc (NASDAQ: EKSO) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Ekso Bionics Holdings Inc in connection with certain allegedly false and misleading statements made between March 15, 2017 and December 27, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Ekso Bionics Holdings Inc (NASDAQ: EKSO) common shares between March 15, 2017 and December 27, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 15, 2017 and December 27, 2017, the defendants made false and/or misleading statements and/or failed to disclose that there was a material weakness in Ekso Bionics Holdings Inc’s internal control over financial reporting and Ekso Bionics Holdings Inc’s disclosure controls and procedures were not effective, and that as a result, defendants’ public statements were materially false and misleading at all relevant times.

Richmond, CA based Ekso Bionics Holdings Inc, formerly PN Med Group Inc, designs, develops and sells wearable bionic human exoskeletons that have applications in healthcare, industrial, military and consumer markets.

On December 14, 2017, Ekso Bionics Holdings Inc advised investors that the Company's internal control over financial reporting as of December 31, 2016 should no longer be relied upon and that a material weakness in the Company's internal control over financial reporting existed as of such date..

On December 27, 2017, Ekso Bionics Holdings Inc filed an amended annual report for 2016 and amended quarterly reports for the first three quarters of 2017.

Shares of Ekso Bionics Holdings Inc (NASDAQ: EKSO) declined from $4.13 per share in November 2017 to as low as $1.75 per share on January 2, 2018.