Viewray Inc (NASDAQ: VRAY) Investor Securities Class Action Lawsuit 09/13/2019

If you purchased a significant amount of shares of Viewray Inc (NASDAQ: VRAY) between March 15, 2019 and August 8, 2019, and / or if you purchased any NASDAQ: VRAY shares prior to March 2019 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: November 12, 2019. NASDAQ: VRAY investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Viewray
Case Name: 
Viewray Shareholder Class Action Lawsuit 09/13/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: VRAY
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
09/13/2019
Class Period Begin: 
03/15/2019
Class Period End: 
08/08/2019
Court of Filing: 
U.S. District Court for the Northern District of Ohio
Deadline To File for Lead: 
11/12/2019
Summary: 

An investor in shares of Viewray Inc (NASDAQ: VRAY) filed a lawsuit in the U.S. District Court for the Northern District of Ohio over alleged violations of Federal Securities Laws by Viewray Inc in connection with certain allegedly false and misleading statements made between March 15, 2019 and August 8, 2019.

Oakwood Village, OH based ViewRay, Inc. designs, manufactures and markets MRIdian, the magnetic resonance imaging (MRI)-guided radiation therapy system to image and treat cancer patients simultaneously.

On May 2, 2019, ViewRay, Inc. announced financial results for the first quarter ended March 31, 2019. The Company reported a loss of $0.34 per share while analysts were expecting a per share loss of $0.22.
Then, on August 8, 2019, ViewRay, Inc.announced financial results for the second quarter ended June 30, 2019. ViewRay reported a quarterly loss of $0.32 per share versus analyst estimates of a loss of $0.23.

Shares of Viewray Inc (NASDAQ: VRAY) declined from $8.51 per share on August 5, 2019 to as low as $2.76 per share on August 9, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Viewray Inc (NASDAQ: VRAY) common shares between March 15, 2019 and August 8, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between March 15, 2019 and August 8, 2019, that the demand for ViewRay systems had declined due in part to changes being made to Medicare reimbursement approaches first announced in November 2019 that could make purchases of new ViewRay systems less profitable for customers, that the Company’s reported backlog was overstated due to the inclusion of orders with insufficient surety as to permit for their inclusion in reported backlog, and that that as a result of the foregoing, defendants’ positive statements about ViewRay’s business metrics and financial prospects during the Class Period were materially false and misleading and/or lacked a reasonable basis.