Kaskela Law LLC is investigating Co-Diagnostics, Inc. (“Co-Diagnostics” or the Company) (NASDAQ: CODX) on behalf of the Company’s long-term investors. The investigation seeks to determine whether the members of Co-Diagnostics’ board of directors violated the securities laws and/or breached their fiduciary duties in connection with alleged corporate misconduct.
Recently a shareholder class action complaint was filed against Co-Diagnostics on behalf of certain investors who purchased shares of the Company’s common stock between April 30, 2020 and May 15, 2020. According to the complaint, during that time period Co-Diagnostics and certain of the Company’s senior executive officers “made continual, knowing, and willful misstatements about their main product, a Covid-19 diagnostic test marketed under the name ‘Logix Smart’, to pump up the price of Co-Diagnostics’ stock,” including claims that the Logix Smart test was 100% effective.
The complaint further alleges that the Company’s “officers and directors exercised low priced options and dumped their stock into the market without informing the investing public” about the true limitations of the Logix Smart test, and prior to the Company’s stock price declining in value.
Current Co-Diagnostics stockholders who purchased or acquired shares of the Company’s stock prior to April 30, 2020 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by completing the form on this page, for additional information about this investigation and their legal rights and options.