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CODX.US
id: 113
Both parties are exchanging evidence and gathering information for the case.
S.D. New York
Court
1:22-cv-06978
Case number
05/12/2022
Class period Start
08/11/2022
Class period End
Co-Diagnostics, Inc. issued a press release and filed a report that showed revenue down almost 82% from the prior year period.
On this news, the price of Co-Diagnostics, Inc. stock declined by 30.65%, to close at $4.48 per share on August 12, 2022.
Going back, the company repeatedly reassured investors about the demand for the product through its press release, SEC report, and conference call with investors and analysts.
At the same time, Co-Diagnostics, Inc. failed to disclose that demand for its Logix Smart™ COVID19 Test had plummeted throughout the quarter ended June 30, 2022, and as a result, Management’s positive statements about the demand for its Logix Smart™ COVID-19 Test lacked a reasonable basis.
Thus, Management made statements about the Company’s business and demand for its products, while they knew, or at least recklessly disregarded, that the Company was experiencing material negative conditions that impaired its financial condition, results of operations and business prospects, and market price of its shares.

Case Status
Case Discovery
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08/12/2022
Filing date
09/21/2023

Co-Diagnostics Inc

Co-Diagnostics, Inc. operates as a molecular diagnostics company that develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nuc...

    Ticker
    CODX.US
    ISIN
    US1897631057
    CIK
    0001692415
    Sector
    Healthcare
    Industry
    Medical Devices
    Country
    USA
    Address
    2401 S. Foothill Dr., Salt Lake City, UT, United States, 84109