INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Ra Medical Systems, Inc. Investors (RMED)

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    BENSALEM, Pa.–(BUSINESS WIRE)–$RMED #classaction–Law Offices of Howard G. Smith announces that a class action lawsuit has
    been filed on behalf of investors who purchased Ra Medical Systems,
    Inc. (“Ra Medical” or the “Company”) (NYSE: RMED)
    securities pursuant and/or traceable to the registration statement and
    prospectus (collectively, the “Registration Statement”) issued in
    connection with the Company’s September 2018 initial public offering
    (“IPO” or the “Offering”). Ra Medical investors have until August 6,
    2019
    to file a lead plaintiff motion.

    Investors suffering losses on their Ra Medical investments are
    encouraged to contact the Law Offices of Howard G. Smith to discuss
    their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

    In September 2018, Ra Medical completed its initial public offering
    (“IPO”), issuing approximately 4.5 million shares of common stock priced
    at $17 per share. On March 14, 2019, the Company revealed that its
    fourth quarter 2018 financial results had been negatively impacted by
    issues related to the hiring and training of qualified sales personnel
    and certain production limitations.

    On this news, the Company’s share price fell $2.14 per share, nearly
    33%, to close at $4.43 per share on March 15, 2019, thereby injuring
    investors. Since the IPO, Ra Medical’s stock has traded as low as $3.40
    per share, significantly below the $17 offering price.

    The complaint filed in this class action alleges that throughout the
    Class Period, Defendants made materially false and/or misleading
    statements, as well as failed to disclose material adverse facts about
    the Company’s business, operations, and prospects. Specifically,
    Defendants failed to disclose to investors: (1) that the Company’s
    evaluation of sales personnel candidates was inadequate; (2) that the
    Company’s training program for sales personnel was inadequate; (3) that,
    as a result, the Company could not reasonably assure that its newly
    hired sales personnel were adequately experienced; (4) that, as a
    result, the Company would suffer a shortage of qualified sales
    personnel; (5) that the Company’s manufacturing process could not
    reasonably support increased catheter production; (6) that, as a result,
    the Company would suffer production delays; and (7) that, as a result of
    the foregoing, Defendants’ positive statements about the Company’s
    business, operations, and prospects, were materially misleading and/or
    lacked a reasonable basis.

    If you purchased shares of Ra Medical, have information, would like to
    learn more about these claims, or have any questions concerning this
    announcement or your rights or interests with respect to these matters,
    please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
    Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
    telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
    or visit our website at www.howardsmithlaw.com.

    This press release may be considered Attorney Advertising in some
    jurisdictions under the applicable law and ethical rules.

    Contacts

    Law Offices of Howard G. Smith
    Howard G. Smith, Esquire
    215-638-4847
    888-638-4847
    howardsmith@howardsmithlaw.com
    www.howardsmithlaw.com