PHILADELPHIA, Feb. 23, 2021 (GLOBE NEWSWIRE) — Kaskela Law LLC announces that it is investigating Decision Diagnostics Corp. (“Decision Diagnostics”) (OTC:DECN) on behalf of the company’s stockholders.
On December 17, 2020, the U.S. Securities and Exchange Commission (“SEC”) filed a complaint against Decision Diagnostics and its Chief Executive Officer (“CEO”), Keith Berman, in the U.S. District Court for the Southern District of New York. The complaint alleges that Decision Diagnostics and Berman seized upon the Covid-19 global pandemic through a series of press releases that falsely claimed Decision Diagnostics had developed a finger prick blood test that could detect Covid-19 in less than a minute.
According to the complaint, from March 2020 to at least June 2020, Decision Diagnostics and Berman made false and misleading statements about the existence of Decision Diagnostics’ Covid-19 device and progress towards FDA emergency use authorization. As alleged, at the time of these claims, Decision Diagnostics lacked a proven method for detecting the virus and had no physical testing device. Further, its advisors had warned that the testing kit they were trying to manufacture would not work as Decision Diagnostics had described. The complaint also alleges that the statements created the misleading impression that the test was soon to be introduced to the market and led to surges in the price and trading volume of Decision Diagnostics’ stock.
Decision Diagnostics’ investors are encouraged to contact Kaskela Law LLC at https://kaskelalaw.com/case/decision-diagnostics-corp/ for additional information about this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
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