Class action lawsuit charges Co-Diagnostics and certain of its top executive officers with violations of the Securities Exchange Act of 1934.

Co-Diagnostics Inc. (NASDAQ:CODX)

NASHVILLE, TENNESSEE, UNITED STATES, August 21, 2022 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 20 years, informs investors that a that a purchaser of Co-Diagnostics, Inc. (NASDAQ: CODX) who suffered losses in Co-Diagnostics stock, filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934. The Co-Diagnostics class action lawsuit seeks to represent purchasers of Co-Diagnostics publicly traded securities between May 12, 2022 and the close of the market on August 11, 2022 (4:00 p.m. ET), inclusive (the “Class Period”). The Co-Diagnostics class action lawsuit is captioned Stadium Capital LLC v. Co-Diagnostics, Inc., No. 22-cv-06978 (S.D.N.Y.)

If you suffered losses in Co-Diagnostics stock or would like additional information, please visit us here.

Investor Who Suffered Losses in Co-Diagnostics Stock Files Uber Class Action Lawsuit

On April 6, 2020, Co-Diagnostics announced that it had received an Emergency Use Authorization for its Logix Smart™ COVID-19 detection test from the U.S. Food and Drug Administration, allowing it to commence sales of the test to laboratories certified by the Center for Medicare and Medicaid Services under the Clinical Laboratories Improvements Act to accept human samples for diagnostics testing throughout the United States.

The Co-Diagnostics class action lawsuit alleges that defendants failed to disclose that: (i) demand for its Logix Smart™ COVID-19 test had plummeted throughout the quarter ended June 30, 2022, and (ii) as a result, defendants’ positive statements about the demand for its Logix Smart™ COVID-19 test lacked a reasonable basis.

On August 11, 2022, Co-Diagnostics disclosed its financial results for the quarter ended June 30, 2022, in which Co-Diagnostics revealed revenue of $5.0 million for the quarter ended June 30, 2022, down from $27.4 million during the prior year period, a decline of almost 82%. Co-Diagnostics primarily attributed the decrease to lower demand of the Logix Smart™ COVID-19 test. On this news, the price of Co-Diagnostics common stock declined by more than 30%, damaging investors.

Co-Diagnostics Shareholders Urged to Contact the Firm

If you purchased Co-Diagnostics securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click here for more information or contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell^® and ALM as a 2022 Top Ranked Lawyer and a 2022 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell^®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019).

Awards: Top Rated Litigator by Martindale-Hubbell^® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell^® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
109 Summit Ridge Ct.
Nashville, TN 37215
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.classactionlawyertn.com

Timothy Miles
Law Offices Of Timothy L. Miles
+1 855-846-6529
email us here
Visit us on social media:
Facebook
Twitter
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Timothy Miles
Law Offices Of Timothy L. Miles
+1 855-846-6529
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other
Timothy Miles
Law Offices Of Timothy L. Miles
+1 855-846-6529
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other
Timothy Miles
Law Offices Of Timothy L. Miles
+1 855-846-6529
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other

Timothy Miles
Law Offices Of Timothy L. Miles
+1 855-846-6529
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

THE LAW OFFICES OF TIMOTHYY L. MILES; ACCOLADES, HONER AND RECOGNITIONS

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