Akers Biosciences, Inc. Securities Litigation

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Lawsuit Overview

Defendant:Akers Biosciences Inc.
Date Filed:June 13th, 2018
Sector:Health Care
Industry:Biotechnology: In Vitro & In Vivo Diagnostic Substances
Settlement Website: http://www.strategicclaims.net/akers
Settlement Deadline:October 9th, 2019

According to the Complaint, Akers Biosciences, Inc. ("Akers" or the "Company"), together with its subsidiaries, develops, manufactures, and supplies rapid screening and testing products designed to deliver healthcare information to healthcare providers and consumers in the United States, the People's Republic of China, and
internationally.

On June 13, 2018, Plaintiff's law firm issued a press release announcing the lawsuit. The lawsuit alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Akers was improperly recognizing revenue for the fiscal year ended December 31, 2017; (2) Akers had downplayed weaknesses in its internal controls over financial reporting and failed to disclose the true extent of those weaknesses; and (3) as a result, Defendants' statements about Akers' business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
 

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First Identified Complaint

Tim Faulkner, et al. v. Akers Biosciences, Inc., et al.

Date Filed:June 13th, 2018
Class Period Start:May 15th, 2017
Class Period End:June 5th, 2018
First Identified Complaint Filings
#Document TitleFiling Date