Original Article was published first on: FintechZoom
SAN DIEGO, Aug. 25, 2020 (GLOBE NEWSWIRE) — The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors NASDAQ: CODX shares.
Investors, who purchased shares of Co-Diagnostics, Inc. (NASDAQ: CODX), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The plaintiff alleges that Co-Diagnostics announced that it had received regulatory clearance to sell its tests in the European Community on February 24, 2020—the first company in the world to receive this clearance and that on April 6, 2020 the company announced that it had received emergency use authorization for its tests from the U.S. Food and Drug Administration. Shares of Co-Diagnostics, Inc. (NASDAQ: CODX) rose to an all-time high stock price of $29.72 per share on March 14, 2020.
The plaintiff says that throughout this time and thereafter, Co-Diagnostics, its Chief Technology Officer, and its other officers and directors made unequivocal statements to the market that its Covid-19 tests were 100% accurate, while in reality the test are materially less than 100% accurate.
The plaintiff claims that the crash came when Co-Diagnostics began acting evasively about its Covid-19 tests’ true accuracy and regulatory authorities contradicted claims made by Co-Diagnostics about the accuracy of diagnostic tests. Then on May 14, 2020, Co-Diagnostics was set to announce its first quarter earnings after markets closed. Before the markets closed and before the earnings call, however, news outlets reported that Co-Diagnostics was reticent to participate in U.S.-based testing to verify its accuracy claims.
Those who purchased Co-Diagnostics, Inc. (NASDAQ: CODX) shares should contact the Shareholders Foundation, Inc.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.