The Co-Diagnostics class action lawsuit seeks to represent purchasers of Co-Diagnostics, Inc. (NASDAQ: CODX) publicly traded securities between May 12, 2022 and the close of the market on August 11, 2022 (4:00 p.m. ET), inclusive (the “Class Period”). The Co-Diagnostics class action lawsuit – captioned Stadium Capital LLC v. Co-Diagnostics, Inc., No. 22-cv-06978 (S.D.N.Y.) – charges Co-Diagnostics and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Co-Diagnostics stock and wish to serve as lead plaintiff of the Co-Diagnostics class action lawsuit, please contact Co-Diagnostics Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected]. Lead plaintiff motions for the Co-Diagnostics class action lawsuit must be filed with the court no later than October 17, 2022. If you suffered losses in Co-Diagnostics stock and have questions, please co Co-Diagnostics Stock Loss Lawyer Timothy L. Miles today.
Allegations in the Co-Diagnostics Class Action Lawsuit
On April 6, 2020, Co-Diagnostics announced that it had received an Emergency Use Authorization for its Logix Smart™ COVID-19 detection test from the U.S. Food and Drug Administration, allowing it to commence sales of the test to laboratories certified by the Center for Medicare and Medicaid Services under the Clinical Laboratories Improvements Act to accept human samples for diagnostics testing throughout the United States.
The Co-Diagnostics class action lawsuit alleges that defendants failed to disclose that: (i) demand for its Logix Smart™ COVID-19 test had plummeted throughout the quarter ended June 30, 2022, and (ii) as a result, defendants’ positive statements about the demand for its Logix Smart™ COVID-19 test lacked a reasonable basis.
On August 11, 2022, Co-Diagnostics disclosed its financial results for the quarter ended June 30, 2022, in which Co-Diagnostics revealed revenue of $5.0 million for the quarter ended June 30, 2022, down from $27.4 million during the prior year period, a decline of almost 82%. Co-Diagnostics primarily attributed the decrease to lower demand of the Logix Smart™ COVID-19 test. On this news, the price of Co-Diagnostics common stock declined by more than 30%, damaging investors who suffered losses in Co-Diagnostics stock.
The Lead Plaintiff Process in the Co-Diagnostics Class Action Lawsuit
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Co-Diagnostics to seek appointment as lead plaintiff in the Co-Diagnostics class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Co-Diagnostics stock, and have further questions, contact Co-Diagnostics Stock Loss Lawyer Timothy L. Miles today.
How Can a Co-Diagnostics Stock Loss Lawyer Help Me?
A Co-Diagnostics Stock Loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation. A Co-Diagnostics Stock Loss Lawyer focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional. While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discovery every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct, such as a Co-Diagnostics Stock Loss Lawyer who will work to recover the losses you sustained through a Co-Diagnostics Class Action lawsuit.
Contact a Co-Diagnostics Stock Loss Lawyer if You Suffered Losses in Co-Diagnostics Stock
If you suffered losses in Co-Diagnostics stock, contact Co-Diagnostics Stock Loss Lawyer Timothy L. Miles today about a Co-Diagnostics class action lawsuit, and see what a Co-Diagnostics Stock Loss Lawyer can do for you.
Timothy L. Miles, Esq.
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, and more.
Timothy L. Miles
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