PHILADELPHIA, April 30, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating securities claims on behalf individuals and entities who purchased, or otherwise acquired, shares of SCWorx Corp. (“SCWorx” or the “Company”) (NASDAQ: WORX) between April 13, 2020 and April 17, 2020, both dates inclusive.

On April 29, 2020, a class action lawsuit was filed in United States District Court, Southern District of New York, against SCWorx on behalf of persons and entities that purchased, or otherwise acquired, SCWorx securities between April 13, 2020 and April 17, 2020, both dates inclusive (the “Class Period”). The lawsuit is pursuing claims against the SCWorx Defendants under the Securities Exchange Act of 1934.

According to the complaint, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the SCWorx Defendants failed to disclose to investors: (1) that SCWorx’s supplier for COVID-19 tests had previously misrepresented its operations; (2) that SCWorx’s buyer was a small company that was unlikely to adequately support the purported volume of orders for COVID-19 tests; (3) that, as a result, the Company’s purchase order for COVID-19 tests had been overstated or entirely fabricated; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

SCWorx investors who purchased, or otherwise acquired, the Company’s securities during the Class Period April 13, 2020-April 17, 2020, both dates inclusive, and suffered losses are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, myarnoff@kehoelawfirm.com, info@kehoelawfirm.com, or John Kehoe, Esq., (215) 792-6676, Ext. 801, jkehoe@kehoelawfirm.com, to discuss the investigation or potential legal claims.

Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct.  Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.   

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