TMCnet News
INVESTOR ALERT: Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Roka Bioscience, Inc.Law Offices of Howard G. Smith reminds investors that purchasers of the securities of Roka Bioscience, Inc. ("Roka" or the "Company") (NASDAQ:ROKA) have until February 23, 2015, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the District of New Jersey. The class action lawsuit asserts claims on behalf of purchasers of Roka securities pursuant or traceable to the Company's initial public offering commencing on or about July 17, 2014 (the "IPO"), including those who purchased or otherwise acquired Roka common stock between July 17, 2014 and November 6, 2014, inclusive (the "Class Period"). Roka is a molecular diagnostics company focused on the development and commercialization of molecular assay technologie for the detection of foodborne pathogens in the United States. The Company's Atlas instrument is a fully automated molecular diagnostic testing instrument for high-volume foodborne pathogen testing laboratories. The Complaint alleges that the offering documents issued in connection with the IPO were false and misleading because defendants failed to disclose known trends and uncertainties about the Company's sales and were aware of, but failed to disclose, lagging demand for its Atlas System when the offering documents were filed with the Securities and Exchange Commission. On November 6, 2014, Roka announced its third quarter 2014 financial results, including a net loss for the third quarter of $0.64 per share. According to the Company, there were no new placements of Atlas instruments during the quarter. Following this news, Roka shares declined approximately 64%, or $5.34 per share, to a closing price of $3.00 per share on November 7, 2014, on extremely heavy volume. If you are a member of the Class described above, you may move the Court no later than February 23, 2015, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at http://www.howardsmithlaw.com. |
