Silk Road Medical (SILK) Stock Tanks After Revenues Lowered and CEO Leaves – Hagens Berman
Firm Encourages Investors with Substantial Losses to Contact its Attorneys
News provided byHagens Berman Sobol Shapiro LLP
Nov 21, 2023, 5:56 PM ET
SAN FRANCISCO, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Hagens Berman encourages Silk Road Medical, Inc. (NASDAQ: SILK) investors who suffered substantial losses to submit your losses now. Hagens Berman is investigating potential violations of the securities laws.
Silk Road Medical, Inc. (NASDAQ: SILK) Investigation:
The investigation focuses on Silk Road’s statements concerning financial risks to its business posed by the Centers for Medicare & Medicaid Services’ (“CMS”) July 2023 proposed National Coverage Determination (“NCD”).
The NCD reportedly proposed to change coverage for a stroke treatment for carotid artery disease (“CAD”) that could put a competing therapy alongside Silk Road’s Transcarotid Artery Revascularization (“TCAR”) therapy regarding reimbursement.
On Oct. 10, 2023, Silk Road announced, without explanation, that: (1) its Q3 2023 revenues were expected to be below Q2 revenues; and (2) it significantly reduced its expected FY 2023 revenues. The company also said that CEO Erica Rogers is leaving the company.
This news drove the price of Silk Medical shares down nearly 50% on Oct. 11, 2023.
“We’re focused on investors’ losses and investigating whether Silk Road may have misled investors about the effect of the NCD’s decision on TCAR-related revenues,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Silk Road Medical and have significant losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Silk Road investigation, read more »
Whistleblowers: Persons with non-public information regarding Silk Road Medical should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SILK@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Past results do not guarantee future outcomes.
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Reed Kathrein, 844-916-0895
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