LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP reminds investors that purchasers of the securities of Roka Bioscience, Inc. (“Roka” or the “Company”) (NASDAQ:ROKA) 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”), 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.
Roka is a molecular diagnostics company focused on the development and commercialization of molecular assay technologies 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 defendants made false and/or misleading statements and/or failed to disclose material adverse facts concerning the Company’s business and financial prospects. Specifically, the Complaint alleges that the offering documents 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, the Company announced Roka’s 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; however, you must 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 wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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