NEW YORK, NY--(Marketwired - Jan 1, 2016) - Pomerantz LLP announces that a class action lawsuit has been filed against ERBA Diagnostics, Inc. ("ERBA" or the "Company") (NYSE MKT: ERB) and certain of its officers. The class action, filed in United States District Court, Southern District of Florida, and docketed under 15-cv-24425, is on behalf of a class consisting of all persons or entities who purchased ERBA securities between April 14, 2014 and November 23, 2015 inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
If you are a shareholder who purchased ERBA securities during the Class Period, you have until February 1, 2016 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
ERBA develops, manufactures, and markets diagnostic test kits or assays, and automated systems that are used to aid in the detection of disease markers primarily in the areas of autoimmune, infectious diseases, clinical chemistry, hematology, and diabetes testing. The Company also develops, manufactures, and markets autoimmune reagents and research products for use by research laboratories and commercial diagnostic manufacturers. The Company markets its products through its sales force to hospitals, reference laboratories, clinical laboratories, and research laboratories, as well as to other commercial companies that manufacture diagnostic products in the United States; and through sales representatives and independent agents in Italy, as well as through independent distributors internationally.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company lacked adequate controls over financial reporting; (ii) the Company's financial statements during the Class Period were materially false and misleading; and (iii) 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.