Diagnostics Company Named In Antibodies Test Accuracy Stock-Drop Suit

(June 29, 2020, 8:56 AM EDT) -- NEW YORK — A point-of-care diagnostics company and two of its senior executives misrepresented the accuracy of its antibody test used to determine current or past exposure to COVID-19 in violation of federal securities laws, causing the company’s stock to trade at an artificially high rated until the alleged fraud was disclosed, an investor argues in a June 18 complaint filed in New York federal court (Sergey Chernysh v. Chembio Diagnostics Inc., et al., No. 20-2706, E.D. N.Y.)....

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