Did National Securities Recommend Restoration Robotics?

Silver Law Group is investigating claims involving National Securities’ sale of Restoration Robotics to investors through its IPO and in Reg D or private placement offerings.

If you invested in Restoration Robotics common stock or in a private placement and would like to discuss your legal rights, please contact our firm.  There is no cost or obligation to you.  You can also contact us by calling Scott L. Silver toll free at (800) 975-4345 or by sending an e-mail to ssilver@silverlaw.com.

A lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Restoration common stock pursuant or traceable to the Company’s Initial Public Offering (the “IPO” or “Offering”) that commenced on October 12, 2017 and closed on October 16, 2017. The case, Guerrini v. Restoration Robotics, Inc. et al., No. 18-cv-03712 was filed on June 21, 2018, and has been assigned to Judge Edward John Davila.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and misleading claims in its Registration Statement regarding: (1) the timeliness with which the most recent version of its premier product, the ARTAS System, would become commercially viable following FDA approval; (2) the ability of its U.S. salesforce to effectively grow the Company’s American business; (3) the Company’s liquidity position; and (4) the extent to which the Company’s business strategy would focus on its international markets.

On May 14, 2018, during an earnings call, the Company declared it expected some “level of softness” in U.S. markets as it further optimized and expanded its sales team. In the same call, the Company also announced a “pivot to a more U.S. centric strategy.”

The class action suit also names National Securities Corporation, Roth Capital Partners, LLC and Craig Hallum Capital Group, LLC as defendants for their roles in the underwriting and sale of the IPO. Investors who purchased Restoration Robotics through earlier private placements may not be eligible to participate in the class action.

On this news, the price of Restoration’s common stock fell from $4.30 per share on May 14, 2018 to $3.68 per share on May 15, 2018—a $.62 or 16.85% drop.

If You’ve Invested in Restoration Robotics

If you suffered significant financial losses in Restoration Robotics, you may have a claim for your investment losses. Silver Law Group has significant experience pursuing claims against broker-dealers including National Securities through FINRA or securities arbitration as well as class action lawsuits against issuers and other potential third parties.

Silver Law Group is a nationally-recognized securities law firm headquartered in South Florida representing investors worldwide with their claims for losses due to securities and investment fraud.  The firm has successfully recovered multi-million dollar awards for its clients through securities arbitration and the courts.  To contact Scott L. Silver to discuss your legal matter, call toll-free (800) 975-4345 or e-mail him at SSilver@silverlaw.com.