NEW YORK, Aug. 17, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Co-Diagnostics, Inc. (“Co-Dx” or the “Company”) (NASDAQ: CODX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980.
The investigation focuses on whether Co-Diagnostics and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On August 11, 2022, Co-Dx shocked investors when the company issued a press release and filed a report with the United States Securities and Exchange Commission that disclosed its financial results for the quarter ended June 30, 2022. The company disclosed revenue of $5.0 million. for the quarter ended June 30, 2022, down from $27.4 million in the prior year period, a decline of nearly 82%. The Company primarily attributed the decline to lower demand for the Logix Smart™ COVID-19 test.
On this news, Co-Dx’s common stock price fell $1.98 per share, or 30.65%, to close at $4.48 per share on August 12, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby