TUCSON, Ariz., Jan. 29, 2016 (GLOBE NEWSWIRE) -- Accelerate Diagnostics, Inc. (Nasdaq:AXDX) (“Accelerate Diagnostics”) announced today that the United States District Court for the District of Arizona granted Accelerate Diagnostics’ Motion to Dismiss the class action lawsuit filed against it in March of 2015. In granting the company’s motion, the court ordered that the action be dismissed with prejudice in its entirety.
Steve Schatz of Wilson Sonsini who represented Accelerate Diagnostics stated, “This was a case that should never have been brought and was utterly without merit. The Judge clearly did the right thing.”
About Accelerate Diagnostics, Inc.
Accelerate Diagnostics, Inc. (Nasdaq:AXDX), is an in vitro diagnostics company dedicated to providing solutions for the global challenge of antibiotic resistant organisms. The company's investigational ID/AST platform utilizes proprietary molecular and phenotypic detection technologies which have the potential to significantly decrease the time to result while achieving high sensitivity and specificity.
Forward-Looking Statements
Certain of the statements made in this press release are forward looking, such as those, among others, relating to the company’s expectations regarding the potential of the ID/AST System and Blood Culture Assay Kit and the company’s prospects for future growth. These statements in this announcement are made based on the company's current beliefs, known events and circumstances at the time of publication and, as such, are subject in the future to unforeseen risks and uncertainties that could cause the company's results of operations, performance and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. For a full discussion of the company's risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in Part 1, Item A in the company's most recent Annual Report on Form 10-K, filed with the SEC on February 26, 2015. In addition, the company's forward-looking statements could be affected by general industry and market conditions. Except as required by federal securities laws, the company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties or other contingencies.