NEW YORK, NY / ACCESSWIRE / June 19, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Chembio Diagnostics, Inc. ("Chembio" or "the Company") (NASDAQ:CEMI). Investors who purchased Chembio securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/cemi.
The investigation concerns whether Chembio and certain of its officers and/or directors have violated federal securities laws.
In April 2020, Chembio's Dual Path Platform ("DPP") COVID-19 antibody test was among the first such tests to be granted Emergency Use Authorization ("EUA") by the U.S. Food and Drug Administration ("FDA"). Then, on June 17, 2020, pre-market, news outlets reported that the FDA had revoked the EUA for Chembio's DPP antibody test, reportedly citing performance concerns with the test's accuracy, a determination that its "benefits no longer outweigh its risks", and "a higher than expected rate of false results." On this news, Chembio's stock price fell $6.04 per share, or 60.83%, to close at $3.89 per share June 17, 2020.
If you are aware of any facts relating to this investigation, or purchased Chembio shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/cemi. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC