A lawsuit was filed on behalf of investors in Repro Med Systems, Inc. (NASDAQ:KRMD) shares over alleged securities laws violations.

San Diego, CA -- (SBWire) -- 04/14/2021 --An investor, who purchased NASDAQ: KRMD shares, filed a lawsuit against Repro Med Systems, Inc. over alleged Securities Laws violations.

Investors who purchased shares of Repro Med Systems, Inc. (NASDAQ: KRMD) have certain options and for certain investors are short and strict deadlines running. Deadline: May 26, 2021. NASDAQ: KRMD investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On November 3, 2020, after the market closed, Repro Med Systems, Inc announced its third quarter 2020 financial results, reporting that net sales declined sequentially to $6.1 million. During the conference call the next day, the Company attributed the lower sales to, among other things, "higher allowances for gross rebates for certain customers" and "payment discounts and distribution fees."

Then, on January 25, 2021, after the market closed, Repro Med Systems, Inc announced its preliminary financial results for fiscal 2020, expecting revenue of approximately $24.0 million, an increase of 3.4% over the prior year. The Company attributed the results to, among other things, "[s]lower growth in net revenue as a result of strengthening our contractual position with large customers." Repro Med Systems, Inc also announced that its CEO, Donald Pettigrew, resigned, effective immediately.

The plaintiff claims that between August 4, 2020 and January 25, 2021, the Defendants failed to disclose to investors that starting in January 2020, KORU ramped up the use of allowances, including growth rebates, to retain key customers and to incentivize growth, that as the rebates accrued, the Company's net sales were reasonably likely to decline, and 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.

Those who purchased shares of Repro Med Systems, Inc. (NASDAQ: KRMD) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.