The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Decision Diagnostics Corp. (OTC: DECN) who purchased shares between March 3, 2020 and December 17, 2020. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Decision Diagnostics lawsuit alleges 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.
Shareholders have until March 16, 2021 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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