Johnson Fistel, LLP Announces That It Has Filed a Class Action Against SCWorx Corp.
Jun 23, 2020, 22:38 ET
SAN DIEGO, June 23, 2020 /PRNewswire/ -- Johnson Fistel, LLP announces that it has filed a class action lawsuit on behalf of all those who purchased or otherwise acquired SCWorx Corp. ("SCWorx" or the "Company") (NASDAQ: WORX) common stock during the period between April 13, 2020 and April 17, 2020, inclusive (the "Class Period"). This action was filed in the United States District Court for the Southern District of New York, case No. 1:20-cv-04777
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or otherwise acquired SCWorx securities during the Class Period to seek appointment as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff, you must move the Court no later June 29, 2020. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [Click here to join this action]. There is no cost or obligation to you.
The complaint alleges that defendants: made materially false and misleading statements and failed to disclose during the class period that: (1) SCWorx's supplier for COVID-19 tests had previously misrepresented its operations; (2) SCWorx's buyer was a small company that was unlikely to support the purported volume of orders for COVID-19 tests adequately; (3) as a result, the Company's purchase order for COVID-19 tests had been overstated or entirely fabricated; and (4) as a result of the preceding, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired SCWorx securities during the Class Period.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
SOURCE Johnson Fistel, LLP
