September 19, 2016 (Shareholders Foundation) - An investor in Rewalk Robotics Ltd (NASDAQ:RWLK) shares filed a lawsuit over alleged Securities Laws violations by Rewalk Robotics Ltd in connection the company’s September 12, 2014 initial public offering.
The plaintiff alleges on behalf of the investors, who purchased Rewalk Robotics Ltd (NASDAQ:RWLK) common shares pursuant or traceable to its initial public offering ( IPO ) on September 12, 2014, that the defendants violated the Securities Act of 1933.

The plaintiff claims that the company’s registration statement for its September 12, 2014 IPO contained untrue statements of material facts, omitted to state other fact necessary to make the statements made not misleading and/or was not prepared in accordance with the rules and regulations governing its preparation. More specifically, the plaintiff alleges that the company’s registration statement for its September 12, 2014 IPO failed to disclose that despite the regulatory requirements to comply with special controls and provide the FDA with a postmarket surveillance study of Rewalk Robotics ReWalk product, the company was woefully unprepared and/or unable to do so.

Shares of Rewalk Robotics Ltd (NASDAQ:RWLK) declined from as high as $43.71 per share on September 15, 2014 to as low as $5.55 per share on December 11, 2015.