The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Co-Diagnostics, Inc. ("Co-Diagnostics" or the "Company") (NASDAQ: CODX) securities between February 25, 2020 and May 15, 2020, inclusive (the "Class Period"). Co-Diagnostics investors have until August 17, 2020 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On February 24, 2020, Co-Diagnostics announced that it had received regulatory clearance to sell its COVID-19 tests in the European Community.
Then 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 ("FDA").
Finally, on May 14, 2020, after the Company continued to uphold its statements about the success of its test in its first quarter results, public reports began to circulate, questioning the Company’s claims of 100% accuracy because the Company was hesitant to participate in U.S.-based testing. Later in the day, the U.S. FDA stated publicly that no COVID-19 test is 100% accurate.
On this news, the Company’s share price fell $5.06, or over 22%, to close at $17.07 per share on May 15, 2020, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Co-Diagnostics securities during the Class Period, you may move the Court no later than August 17, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Co-Diagnostics securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.