NEW YORK, June 25, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Restoration Robotics, Inc. ("Restoration Robotics" or the "Company") (NASDAQ: HAIR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Restoration Robotics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 12, 2017, Restoration Robotics commenced its initial public offering ("IPO"), selling 3,897,910 shares of common stock priced at $7.00 per share and raising approximately $22.7 million. On May 11, 2018, Restoration Robotics announced a $20 million Loan and Security Agreement with Solar City Capital Ltd. and Bridge Bank. On May 14, 2018, Restoration Robotics announced its financial and operating results for the first quarter of 2018, and disclosed that it did "not have sufficient capital to fund its planned operations".
On this news, Restoration Robotics' share price fell $0.62, or 14.42%, to close at $3.68 on May 15, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP