NEW YORK, March 23, 2015 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Accelerate Diagnostics, Inc. ("Accelerate Diagnostics" or the "Company") (Nasdaq:AXDX) and certain of its officers. The class action, filed in United States District Court, District of Arizona, Phoenix Division, is on behalf of a class consisting of all persons or entities who purchased Accelerate Diagnostics securities between March 7, 2014 and February 17, 2015, inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
If you are a shareholder who purchased Accelerate Diagnostics securities during the Class Period, you have until May 18, 2015 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
Accelerate Diagnostics is an in vitro diagnostics company, which focuses on developing and commercializing solutions for the diagnosis of serious infections. The company is developing an ID/AST System, a rapid diagnostic platform for the diagnosis of infectious pathogens. It also develops and licenses OptiChem surface coatings for use in microarraying components. The company was formerly known as Accelr8 Technology Corporation and changed its name to Accelerate Diagnostics, Inc. in December 2012.
The complaint alleges that during the Class Period, Defendants made false and/or misleading statements, and failed to disclose material adverse facts about the Company's business, operations, prospects and performance. Specifically, Defendants made misleading statements and/or failed to disclose that the Company's BACcel or ID/AST system actually requires a positive blood culture, despite representations to the contrary.
On February 18, 2015, SeekingAlpha.com published an article entitled "Accelerate Diagnostics - A Misleading Story Ripe For Decline." The article, in citing to AXDX's corporate documents, revealed that the most likely use of the BACcel or ID/AST System requires a positive blood culture.
On this news, shares of AXDX fell $4.91 per share to $18.05, or more than 21%, on February 20, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.