March 2, 2017 / 1:48 PM / 6 months ago

Rockwell Medical shareholders launch proxy fight, nominate two directors

NEW YORK, March 2 (Reuters) - Two Rockwell Medical Inc. shareholders have launched a proxy fight against the company, nominating themselves to serve as directors on the board.

David Richmond, Chairman of wealth management firm Richmond Brothers Inc., and investor Mark Ravich - who together own 11.9 percent of the company - have nominated themselves as directors on the board of Rockwell Medical, which makes a kidney dialysis product called Triferic.

The investors believe the company has failed to monetize its drug candidates, according to a statement seen by Reuters. (Reporting by Michael Flaherty)

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