NEW YORK--(BUSINESS WIRE)--Kirby McInerney LLP announced today that a class action lawsuit is pending in the United States District Court for the District of Arizona on behalf of investors who acquired Accelerate Diagnostics, Inc. (AXDX) (“Accelerate Diagnostics” or the “Company”) (Nasdaq:AXDX) securities during the period from March 7, 2014 through February 17, 2015 (the “class period”). Pursuant to applicable law, investors have until May 18, 2015 to file a motion to be appointed as lead plaintiff in the investor lawsuit.
The lawsuit charges that the Company misled investors about the process requirements of its primary medical product, the ID/AST system. Throughout the class period, the Company claimed that ID/AST could detect serious hospital borne infections (such as Staph infections) without using blood cultures, which take two to five days to process. According to a report that appeared in SeekingAlpha.com on February 18, 2015, the most likely use of the ID/AST System does require a positive blood culture.
On this news, the Company’s stock declined from $22.96 on February 17, 2015 to $18.05 on February 20, 2015, a loss of value of over 21% in three days.
If you acquired Accelerate Diagnostics securities during this period and you are interested in learning more about this matter and any rights you might have with respect to these claims, contact Jess Kelley at firstname.lastname@example.org, by telephone at (212) 371-6600, or by filling out this form. Please bear in mind that some of these rights may be time-sensitive.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, whistleblower, antitrust and consumer litigation. The firm has specialized in complex litigation, including securities class actions, for several decades. Kirby McInerney LLP has repeatedly demonstrated its expertise in this field, and has been recognized by various courts that have appointed the firm to major positions in consolidated and multi-district litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars, and the firm’s achievements and quality of service have been chronicled in numerous published decisions. Additional information about the firm or the claims against Accelerate Diagnostics can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.