NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it is
investigating potential securities claims on behalf of shareholders of
Reliq Health Technologies Inc. (OTC: RQHTF) resulting from allegations
that Reliq may have issued materially misleading business information to
the investing public.
On October 16, 2018, Reliq disclosed that it “decided to restate certain
financial information reported for the quarter ended March 31, 2018.”
Reliq stated that “[t]he decision to restate followed a review conducted
by the Company’s auditor and Audit Committee, wherein it was determined
that the timing and certainty of receiving the revenue invoiced to
clients is substantially unclear, due to clients’ issues with securing
reimbursement from the payor.” Reliq further disclosed that “[t]he
material changes to be included in the restatement will affect the
Company’s revenue and are projected to increase the Company’s loss and
comprehensive loss for Fiscal Year 2018. In addition, the Company’s
Board of Directors have taken the position that no revenue will be
reported for Q4 of fiscal 2018 until revenue collection issues are
resolved.” On this news, shares of Reliq stock fell $0.32 or over 55% to
close at $0.26 per share on October 16, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses
suffered by Reliq investors. If you purchased shares of Reliq please
visit the firm’s website at https://www.rosenlegal.com/cases-1432.html
to join the class action. You may also contact Phillip Kim or Zachary
Halper of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org
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Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013.
Attorney Advertising. Prior results do not guarantee a similar outcome.
The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
275 Madison Avenue, 34th Floor
York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653