NEW YORK - (NewMediaWire) - July 22, 2020 - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Co-Diagnostics, Inc. (“Co-Diagnostics” or the “Company”) (NASDAQ:CODX) of the August 17, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Co-Diagnostics stock or options between February 25, 2020 and May 15, 2020 and would like to discuss your legal rights, click here: www.faruqilaw.com/CODX. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
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The lawsuit has been filed in the U.S. District Court for the District of Utah on behalf of all those who purchased Co-Diagnostics securities between February 25, 2020 and May 15, 2020 (the “Class Period”). The case, Gelt Trading v. Co-Diagnostics et al., No. 2:20-cv-00368 was filed on June 15, 2020, and has been assigned to Judge Cecilia M. Romero.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements about the accuracy of the Company’s Covid-19 tests.
On May 14, 2020, public reports casting doubt of the Company’s claims of Covid-19 100% test accuracy began to emerge.
In response to this news, the Company’s stock price fell from $22.13 per share on May 14, 2020 to $17.07 per share on May 15, 2020: a $5.06 or 22.84% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Co-Diagnostics’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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