Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $50,000 Investing In Venaxis, Inc. (APPY) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Venaxis, Inc. (“Venaxis” or the “Company”) (NASDAQ: APPY) of the April 3, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Venaxis and certain officers of the Company.
A complaint has been filed in the United States District Court for the District of Colorado on behalf of all persons who purchased or otherwise acquired Venaxis securities between March 13, 2014 and January 28, 2015 (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its statements concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Venaxis misrepresented and/or failed to disclose that the Company’s expected Food and Drug Administration (“FDA”) clearance of the 510(k) submission of its lead product candidate, the APPY1 diagnostic test, lacked a reasonable basis.
On January 29, 2015, Venaxis announced that the FDA determined that the APPY1 diagnostic test did not meet the criteria based on data and information in the 510(k) submission.
Following this news, the price of Venaxis stock declined by $1.49 per share, or over 73%, to close on January 29, 2015 at $0.55 per share.
If you invested in Venaxis common stock or options between March 13, 2014 and January 28, 2015 and would like to discuss your legal rights, you can 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 the Company’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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