공시 • Feb 19
Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Decision Diagnostics Corporation of Class Action Lawsuit and Upcoming Deadline Pomerantz LLP announced that a class action lawsuit has been filed against Decision Diagnostics Corporation and certain of its officers. The class action, filed in United States District Court for the Central District of California, and docketed under 21-cv-00418, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Decision Diagnostics securities between March 3, 2020 and December 17, 2020, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder, against the company and certain of its top officials. Decision Diagnostics purportedly offers, among other products and services, prescription and non-prescription diagnostics and home testing products. From March 2020 to at least June 2020, Defendants claimed that the company had developed a finger-prick blood test that could detect COVID-19 in less than one minute. Defendants also made various representations regarding the company's progress towards achieving U.S. Food and Drug Administration ("FDA") emergency use authorization ("EUA") for this purported COVID-19 finger-prick blood test. The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, and failed to disclose material adverse facts about the company's business, operational, and compliance policies. Specifically, Defendants made false and/or misleading statements and failed to disclose to investors that: (i) Decision Diagnostics had not developed any viable COVID-19 test, much less a test that could detect COVID-19 in less than one minute; (ii) the company could not meet the FDA's EUA testing requirements for its purported COVID-19 test; (iii) accordingly, Defendants had misrepresented the timeline within which it could realistically bring its COVID-19 test to market; (iv) all the foregoing subjected Defendants to an increased risk of regulatory oversight and enforcement; and (v) as a result, Defendants' public statements were materially false and misleading at all relevant times. On December 17, 2020, the SEC filed a complaint in federal court against Defendants, alleging that they had issued a series of press releases that falsely claimed that Decision Diagnostics had developed a finger-prick blood test that could detect COVID-19 in less than one minute. According to the SEC Complaint, from March 2020 to at least June 2020, Defendants made false and misleading statements about the existence of Decision Diagnostics' COVID-19 device and progress towards achieving FDA EUA for that device. As alleged, at the time of these claims, Decision Diagnostics lacked a proven method for detecting the virus and had no physical testing device. The SEC Complaint further alleged that the statements created the misleading impression that Decision Diagnostics would soon introduce the COVID-19 test to the market, which led to surges in the price and trading volume of the company's stock. 공시 • Feb 18
The Schall Law Firm Announces the Filing of Class Action Lawsuit Against Decision Diagnostics The Schall Law Firm announced the filing of a class action lawsuit against Decision Diagnostics Corp. for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. According to the Complaint, the Company made false and misleading statements to the market. Decision Diagnostics failed to develop a viable COVID-19 test in any form, let alone a test that could detect the virus in less than one minute. The Company was not capable of meeting the FDA's EUA testing requirements for its purported COVID-19 test. Despite this inability to meet FDA requirements, the Company touted an unrealistic time to market for its tests. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Decision Diagnostics, investors suffered damages. 공시 • Jan 19
The Schall Law Firm Announces the Filing of a Class Action Lawsuit against Decision Diagnostics Corp. and Encourages Investors with Losses in Excess of $500,000 to Contact the Firm The Schall Law Firm announced the filing of a class action lawsuit against Decision Diagnostics Corp. for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between March 3, 2020 and December 17, 2020, inclusive (the 'Class Period'), are encouraged to contact the firm before March 16, 2021. The class, in this case, has not yet been certified, and until certification occurs, they are not represented by an attorney. According to the Complaint, the Company made false and misleading statements to the market. Decision Diagnostics failed to develop a viable COVID-19 test in any form, let alone a test that could detect the virus in less than one minute. The Company was not capable of meeting the FDA's EUA testing requirements for its purported COVID-19 test. Despite this inability to meet FDA requirements, the Company touted an unrealistic time to market for its tests. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Decision Diagnostics, investors suffered damages. 