We are investigating Ra Medical Systems, Inc. (RMED) (“Ra Medical” or the “Company”) for potential violations of the federal securities laws.
In September 2018, Ra Medical completed its initial public offering (“IPO”), issuing approximately 4.5 million shares of common stock priced at $17.00 per share. Then, on March 14, 2019, Ra Medical 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, Ra Medical’s stock price fell $2.14 per share, or roughly 32.6%, to close at $4.43 per share on March 15, 2019.