A lawsuit was filed on behalf of investors in ERBA Diagnostics Inc (NYSEMKT:ERB) shares over alleged securities laws violations and NYSEMKT:ERB investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/06/2016 -- A shareholder in ERBA Diagnostics Inc (NYSEMKT:ERB) filed a lawsuit in Florida over alleged violations of Securities Laws by ERBA Diagnostics Inc.
Investors who purchased shares of ERBA Diagnostics Inc (NYSEMKT:ERB) have certain options and for certain investors are short and strict deadlines running. Deadline: February 1, 2016. NYSEMKT:ERB investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff claims that between April 14, 2014 and November 23, 2015 Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that ERBA Diagnostics Inc lacked adequate controls over financial reporting, that ERBA Diagnostics Inc's financial statements between April 14, 2014 and November 23, 2015 were materially false and misleading, and that as a result of the foregoing, Defendants' statements regarding ERBA's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On November 20, 2015, ERBA Diagnostics Inc announced that the Audit Committee of the Company's Board of Directors concluded that the Company's financial statements for each of the years ended December 31, 2014 and 2013 and for each of the interim periods ended March 31, 2015 and June 30, 2015 should no longer be relied upon. In addition, ERBA Diagnostics Inc stated that the Company intends to restate its financial statements for each of the years ended December 31, 2014 and 2013 and for each of the interim periods ended March 31, 2015 and June 30, 2015 by filing amendments to its Annual Report on Form 10-K for the year ended December 31, 2014, which will also include details regarding adjustments in the portion of the Non-Reliance Period occurring during the year ended December 31, 2013, and its Quarterly Reports for the periods ended March 31, 2015 and June 30, 2015 as soon as practicable. Shares of ERBA Diagnostics Inc (NYSEMKT:ERB) declined to as low as $1.01 per share on November 24, 2015.
Those who purchased shares of ERBA Diagnostics Inc (NYSEMKT:ERB) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com