Bernstein Liebhard LLP Announces That A Class Action Has Been Filed Against Accelerate Diagnostics, Inc.
March 20, 2015
Bernstein Liebhard LLP today announced that a class action has been commenced in the United States District Court for the District of Arizona on behalf of purchasers (the “Class”) of common stock of Accelerate Diagnostics, Inc. (“Accelerate Diagnostics” or the “Company”) (NASDAQ: AXDX) during the period of March 7, 2014 and February 17, 2015 (the “Class Period”) alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
The Complaint alleges that the Company misrepresented and/or failed to disclose that its main product, the ID/AST system—formerly known as the BACcel system—requires a positive blood culture to diagnose pathogens in a blood sample.
On February 18, 2015, SeekingAlpha.com published an article asserting that though Accelerate Diagnostics had claimed it had developed a technique for diagnosing pathogens in a blood sample without the need of a blood culture, this test did in fact require a blood culture, significantly reducing its value.
On this news, Accelerate Diagnostics’ stock price fell $4.91 per share, or over 21% over the next three days to close at $18.05 per share on February 20, 2015.
Plaintiffs seek to recover damages on behalf of all Class members who invested in Accelerate Diagnostics common stock during the Class Period. If you invested in Accelerate Diagnostics common stock as described above, and either lost money on the transaction or still hold the security, you may wish to join in this action to serve as lead plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than May 18, 2015.
A “lead plaintiff” is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Bernstein Liebhard LLP, or other counsel of your choice, to serve as your counsel in this action.
If you are interested in discussing your rights as an Accelerate Diagnostics shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLPhas pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.
You can obtain a copy of the complaint from the clerk of the court for the United States District Court for the District of Arizona.