Accelerate Diagnostics, Inc.
Robbins Arroyo LLP: Accelerate Diagnostics, Inc. Misled Shareholders According to a Recently Filed Class Action
Robbins Arroyo LLP announces that an investor of Accelerate Diagnostics, Inc. (NasdaqCM: AXDX) has filed a federal securities fraud class action complaint in the U.S. District Court for the District of Arizona. The complaint alleges that the company and certain of its officers and directors violated the Securities Exchange Act of 1934 between March 7, 2014 and February 17, 2015. Accelerate Diagnostics is an in vitro diagnostics company, focusing on developing and commercializing solutions for the diagnosis of serious infections.
Accelerate Diagnostics Misrepresents Its Business Practices
According to the complaint, shares of Accelerate Diagnostics fell $4.91 per share, or over 21% over a three day period, to close at $18.05 per share on February 20, 2015, following a February 18, 2015 article published by SeekingAlpha.com regarding the company’s ID/AST System. Formally known as the BACcel System, ID/AST is, according to Accelerate Diagnostics, a rapid diagnostic platform for the diagnosis of infectious pathogens that does not need a blood culture. However, the SeekingAlpha.com article revealed that despite repeated claims by Accelerate Diagnostics that ID/AST System is a proprietary culture-free process, the system does in fact need a positive blood culture to test for infectious diseases.
Accelerate Diagnostics Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.