Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of shareholders of electroCore, Inc. (NASDAQ: ECOR) to determine whether electroCore violated federal securities laws.
On June 21, 2018, electroCore issued its initial public offering (“IPO”), during which 5.2 million shares of its common stock were sold at $15.00 per share to investors.
On May 14, 2019, electroCore announced disappointing “First Quarter 2019 Financial Results.” On this news, electroCore’s share price fell $1.58, almost 30%, to close at $3.72 on May 15, 2019.
On May 29, 2019, electroCore announced a “Comprehensive Redeployment and Cost Reduction Plan.” As part of the initiative, Chief Executive Officer, Francis Amato, voluntarily agreed to a 10% cut in his base annual compensation. Less than two weeks later, on June 10, 2019, electroCore announced that Frank Amato offered his resignation to electroCore’s board of directors.
electroCore securities have been trading at approximately 88% below the IPO price.
If you purchased electroCore shares and suffered losses during the IPO or after and suffered losses, please contact either John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], or Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected].