Co-Diagnostics, Inc. ("Co-Dx") purports to develop, manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules (DNA or RNA), including robust and innovative molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications.

On April 6, 2020, Co-Dx announced that it had received an Emergency Use Authorization for its Logix Smart™ COVID-19 detection test from the 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 (“CLIA”) to accept human samples for diagnostics testing throughout the United States.

A securities fraud class action complaint alleges that the company, through certain of its officers and directors, repeatedly touted the Logix Smart™ COVID-19 Test, reassuring investors about the demand for the product. The Complaint further alleges that, at the same time, Defendants failed to disclose that: (1) demand for the Logix Smart™ COVID-19 Test had plummeted throughout the quarter ended June 30, 2022, and (2) as a result, Defendants’ positive statements about the demand for its Logix Smart™ COVID-19 Test lacked a reasonable basis.

If you are a current Co-Diagnostics shareholder who has held shares since on or before May 12, 2022, you may be able seek corporate reforms, the return of funds expended defending litigation back to company coffers, and a court approved incentive award if appropriate.

If you would like to learn more about this matter at no cost to you, contact us at [email protected], or call 267-507-6085.