Chembio Diagnostics, Inc. Class Action Lawsuit - CEMI

According to the filed complaint, defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated Chembio’s stock price and operated as a fraud or deceit by misrepresenting the efficacy of the Company’s Dual Path Platform ("DPP") COVID-19 test. Defendants allegedly achieved this by making false statements about Chembio’s DPP COVID-19 test, although they knew or at least recklessly disregarded that there were material performance concerns with the test. When defendants’ prior misrepresentations were disclosed and became apparent to the market, the price of Chembio stock fell precipitously as the prior artificial inflation came out of Chembio’s stock price.

In order to be eligible to join the CEMI class action lawsuit, you must have incurred a loss on shares of Chembio purchased during the class period listed above.

If you suffered a loss in Chembio during the relevant time frame or pursuant to the relevant offering(s), you have until August 17, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

The complaint alleges that Chembio Diagnostics, Inc. violated federal securities laws by issuing materially false and/or misleading information and/or failing to disclose material information. If you suffered a loss in Chembio Diagnostics, Inc. you have until August 17, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.