As previously disclosed, on May 18, 2020, Rockwell Medical, Inc. entered into a formal Stipulation of Settlement (the “Settlement”) of a consolidated shareholder derivative action pending in the United States District Court in the Eastern District of New York (the “Court”). On June 2, 2020, the Court issued an order preliminarily approving the Settlement (the “Order”) and scheduled a hearing for August 11, 2020 to determine whether the Court should issue a final order approving the proposed Settlement (the “Settlement Approval Hearing”). Subsequent to issuing the Order, the Court rescheduled the Settlement Approval Hearing for August 10, 2020.
As previously disclosed, the terms of the proposed Settlement, which include certain corporate governance reform measures, are described in the Notice of Pendency and Proposed Settlement of Derivative Action (the “Notice”), which is attached as exhibit 99.1 to our Current Report on Form 8-K filed on June 19, 2020. The Notice and the related Stipulation of Settlement are also available at https://www.rockwellderivlitigation.com/documents.
About ROCKWELL MEDICAL, INC. (NASDAQ:RMTI)

Rockwell Medical, Inc. (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. The Company operates through the hemodialysis market segment, which involves the manufacture, sale and distribution of hemodialysis products to hemodialysis clinics, including pharmaceutical, dialysis concentrates, dialysis kits and other ancillary products used in the dialysis process. Its lead branded drug, Triferic is indicated for iron maintenance. Triferic is an iron compound that is delivered to hemodialysis patients through dialysate, replacing the iron loss that occurs during their dialysis treatment. Its generic drug, Calcitriol, is indicated for treating secondary hyperparathyroidism in dialysis patients. It manufactures, sells, delivers and distributes hemodialysis concentrates, along with a range of ancillary products.