(PRWEB) April 19, 2013
Zamansky & Associates LLC notifies all investors who purchased common stock of Rockwell Medical Technologies Inc. (Rockwell Medical) before February 2010 and who are still holding, that it is investigating possible corporate waste and breaches of fiduciary duties by the officers and directors. The investigation concerns Rockwell Medical’s handling of Phase III clinical trials concerning Soluble Ferric Pyrophosphate (SFP), an experimental iron-therapy drug intended to treat iron-deficiency.
On March 6, 2012, a lawsuit filed by a former employee of Rockwell Medical against the company was removed to federal court. The case is Richard Yocum, M.D. v. Rockwell Medical Technologies Inc. et al., Case No. 12-CV-568 (MMD) in the United States District Court, Southern District of California. In his complaint, Yocum alleges that he was Rockwell Medical’s Vice President of Drug Development and Medical Affairs. He further alleges that he was terminated in retaliation for opposing the manner in which Chief Executive Officer Robert Chioni handled SFP’s Phase III clinical trials and its efforts to obtain FDA approval. His complaint alleges wrongful termination in violation of public policy and seeks compensation owed to him as well as damages.
In view of these allegations, Zamansky & Associates LLC has launched an investigation on behalf of long-term shareholders in Rockwell Medical stock. According to Jake Zamansky, Rockwell Medical’s handling of its SFP’s Phase III clinical trials raises concerns of possible corporate waste and breaches of fiduciary duties.
What Rockwell Medical Technologies Investors Can Do
If you are a shareholder who purchase common stock of Rockwell Medical before February 2010, and are still holding the stock, and would like to discuss your legal rights, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
About Zamansky & Associates LLC
Zamansky & Associates LLC is one of the leading law firms specializing in securities fraud and financial services arbitration and class action litigation. We represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
To learn more about Zamansky, please visit our website, http://www.zamansky.com.
Zamansky & Associates, LLC
50 Broadway - 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414