LOS ANGELES, Aug 10, 2020 (GLOBE NEWSWIRE) – Frank R. Cruz's law firm is reminding investors that class action lawsuits have been filed on behalf of shareholders in the following publicly traded companies. Investors have until the deadlines set out below to file a motion from the lead plaintiff.

Investors who experience losses on their investments are requested to contact Frank R. Cruz's law firm at 310-914-5007 or by email at fcruz@frankcruzlaw.com to exercise their legal rights in these class actions to discuss.

ProAssurance Corporation (NYSE: PRA)
Teaching time: April 26, 2019 – May 7, 2020
Main plaintiff's deadline: 17th August 2020

The complaint alleges that ProAssurance provided false and / or misleading information and / or failed to disclose throughout the class period: (1) ProAssurance lacked an adequate underwriting process and risk management controls required to maintain adequate loss reserves in its specialty P & Form C segment; (2) that ProAssurance has not properly valued a large national health account that has suffered losses well in excess of the assumptions made when the account was drawn up; and (3) that as a result, ProAssurance was exposed to a significantly increased risk of financial loss and reserves.

Co-Diagnostics, Inc. (NASDAQ: CODX)
Classes: February 25, 2020 – May 15, 2020
Main plaintiff's deadline: 17th August 2020

On February 24, 2020, Co-Diagnostics announced that it had received regulatory approval to sell its COVID-19 tests in the European Community. On April 6, 2020, the company announced that it had received emergency approval from the US Food and Drug Administration ("FDA") for its testing. Finally, on May 14, 2020, after the company further confirmed its statements about the success of its test in its first quarter results, public reports began to circulate questioning the company's claims about 100% accuracy because the company was reluctant to take tests in the US. Later in the day, the US FDA publicly announced that no COVID-19 test is 100% accurate. In that news, the company's share price fell $ 5.06, or over 22%, to close at $ 17.07 per share on May 15, 2020, hurting investors.

The story goes on

Enphase Energy, Inc. (NASDAQ: ENPH)
Classes: February 26, 2019 – June 17, 2020
Main plaintiff's deadline: 17th August 2020

Shareholders with a loss of $ 150,000 or more are encouraged to contact the company.

The complaint alleges that throughout the classroom the defendants made false and / or misleading statements and / or failed to disclose: (1) that their earnings were excessive, both in the US and internationally; (2) that the Company has used inappropriate accounting practices for deferred income; (3) that the company's reported gross margin expansion was overvalued; and that (4) as a result of the foregoing, Defendants' public statements at all relevant times were materially false and misleading.

Chembio Diagnostics, Inc. (NASDAQ: CEMI)
Classes: March 12, 2020 – June 16, 2020
Main plaintiff's deadline: 17th August 2020

In April 2020, the Company's COVID-19 antibody test was one of the first to be approved for Emergency Use ("EUA") by the US Food and Drug Administration (FDA). On June 17, 2020, before the market opened, the FDA revoked the EUA for Chembio's Dual Path Platform COVID-19 serology test due to concerns about the accuracy of the test. In particular, the FDA noted that "the benefits no longer outweigh the risks" and that "it is not reasonable to believe that the test may be effective" because it "produces a higher than expected rate of false results and is higher than that." in the authorized marking for the device. “In the news, the company's stock price fell $ 6.04, or nearly 60%, to close at $ 3.89 per share on June 17, 2020.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

To be a member of these class actions, you do not need to take any action at this point. You can keep a lawyer of your choice or take no action and remain an absent member of the class action lawsuit. If you would like to learn more about this class action lawsuit, or if you have any questions about this announcement or your rights or interests in relation to these matters, please contact Frank R. Cruz of the Frank R. Cruz law firms at 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067, 310-914-5007, via email to info@frankcruzlaw.com or visit our website at www.frankcruzlaw.com. When inquiring by email, please provide your mailing address, phone number and number of shares purchased.

This press release may be viewed as a solicitation in some jurisdictions under applicable laws and ethical rules.


Frank R. Cruz's law firms, Los Angeles
Frank R. Cruz, 310-914-5007

Leave a Reply

Your email address will not be published. Required fields are marked *