The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Co-Diagnostics, Inc. (NASDAQ: CODX) who purchased shares between February 25, 2020 and May 15, 2020. The action, which was filed in the United States District Court for the District of Utah, alleges that the Company violated federal securities laws.
In particular, the Co-Diagnostics lawsuit alleges that the Company and its directors and officers (including PhD-level scientists who should know better) made continual, knowing, and willful misstatements about the Company’s main product, a Covid-19 diagnostic test. These misstatements had the effect of pumping up the price of Co-Diagnostics’ stock while Company officers and directors exercised low-priced options and dumped their stock into the market. Co-Diagnostics’ fraudulent misstatements displayed a disregard for basic scientific principles and cost investors millions of dollars.
Shareholders have until August 17, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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