Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Accelerate Diagnostics, Inc.
Oklahoma City, OK (March 23, 2015) – On March 19, 2015, a securities class action lawsuit was filed in the United States District Court for the District of Arizona against Accelerate Diagnostics, Inc. (NASDAQ: AXDX). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is March 7, 2014 through February 17, 2015. More specifically, this litigation was filed because that the Company failed to disclose that its main product, the ID/AST system (formally known as the BAC-cel system) requires a positive blood culture to diagnose pathogens in a blood sample. On this news, the Company’s shares dropped to close at $19.43 on February 19, 2015.
On February 18, 2015, Seeking Alpha published an article asserting that though the Company had claimed it had developed a technique for diagnosing pathogens in a blood sample without the need of a blood culture, this test did in fact required a blood culture. On this news, the Company’s shares declined to close at $19.43 on February 19, 2015.
Plaintiff seeks to recover damages on behalf of all Accelerate Diagnostics, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, May 18, 2015 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to firstname.lastname@example.org, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.
Posted on Mon, March 23, 2015
by Robin Hester filed under