The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Central District of California on behalf of shareholders of Decision Diagnostics Corp. who purchased shares between March 3, 2020 and December 17, 2020.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose 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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until March 16, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.