The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Talis Biomedical Corporation (NASDAQ: TLIS) who purchased common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s February 2021 initial public offering. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Talis lawsuit alleges that documents the Company issued in connection with its IPO failed to disclose to investors: (1) that the comparator assay in the primary study lacked sufficient sensitivity to support Talis’s Emergency Use Authorization application for Talis One COVID-19 test; (2) that, as a result, Talis was reasonably likely to experience delays in obtaining regulatory approval for the Talis One COVID-19 test; (3) that, as a result, the Company’s commercialization timeline would be significantly delayed; and (4) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Shareholders have until March 8, 2022 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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