NEW YORK, May 09, 2015 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Accelerate Diagnostics, Inc. (“Accelerate” or the “Company”) (Nasdaq:AXDX) of the May 21, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Accelerate and certain executives of the Company.
A complaint has been filed in the United States District Court for the District of Arizona on behalf of all persons who purchased Accelerate common stock during the period of March 7, 2014 to February 17, 2015 (the “Class Period”).
The complaint alleges that the Company and certain executives violated the federal securities laws with respect to its statements concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period Accelerate issued statements falsely representing that its technology BACcel involves a technique for diagnosing pathogens in a blood sample without a need for using a blood culture.
On February 18, 2015, an article published on the website www.SeekingAlpha.com revealed that BACcel actually does require a blood culture which significantly reduces the value of the technology.
Following this news, Accelerate stock declined by $4.04 per share, or more than 18%, closing on February 20, 2015 at $18.05 per share.
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If you invested in Accelerate stock or options through February 18, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/AXDX. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Accelerate’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Source:Faruqi & Faruqi LLP