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Akers Biosciences, Inc. (AKER)

NASDAQ:AKER

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Akers Biosciences, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Akers Biosciences, Inc. (“Akers” or the “Company”) (NASDAQ: AKER) of the August 13, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Akers stock or options between May 15, 2017 and June 5, 2018 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. 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 rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Akers securities between May 15, 2017 and June 5, 2018 (the “Class Period”).  The case, Faulkner v. Akers Biotechnologies, Inc., No. 18-cv-10521 was filed on June 13, 2018

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or misleading statements and/or failed to disclose that: (i) Akers was improperly recognizing revenue for the fiscal year ended December 31, 2017; (ii) Akers had downplayed weaknesses in its internal controls over financial reporting and failed to disclose the true extent of those weaknesses; and (iii) consequently, Aker's statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Specifically, on May 21, 2018, Akers revealed that it would delay filing its Form 10-Q with the SEC for the quarter ended March 31, 2018 and that will continue reviewing the "characterization of certain revenue recognition items . . . now includes certain transactions in previous quarters."

After the announcement, Aker’s share price fell from $0.657 per share on May 21, 2018 to a closing price of $0.599 on May 22, 2018—a $0.058 or a 8.82% drop.

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  • Case:
    Akers Biosciences, Inc. (AKER)
  •    

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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 06/15/2018

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