SAN DIEGO, Jan. 20, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Florida on behalf of certain purchasers of shares of ERBA Diagnostics Inc (NYSEMKT:ERB) over alleged Securities Laws Violations by ERBA Diagnostics.
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 +1(858) 779 - 1554.
The plaintiff claims that defendants made certain 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.
Those who purchased ERBA Diagnostics Inc (NYSEMKT:ERB) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.