|Company name||ViewRay, Inc.|
NEW YORK, November 14, 2019 –Bragar Eagel and Squire is investigating certain officers and directors of ViewRay, Inc (NASDAQ: VRAY) following a class action complaint that was filed against ViewRay on September 13, 2019.
The complaint alleges that throughout the Class Period defendants issued materially false and misleading statements that failed to disclose adverse facts concerning the company’s business, operations and financial results. Specifically: (a) that 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; (b) 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 (c) 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.
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