{"id":416103,"date":"2021-01-15T23:52:09","date_gmt":"2021-01-16T04:52:09","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=416103"},"modified":"2021-01-15T23:52:09","modified_gmt":"2021-01-16T04:52:09","slug":"pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers-decn","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers-decn\/","title":{"rendered":"Pomerantz Law Firm Announces the Filing of a Class Action against Decision Diagnostics Corporation and Certain Officers  &#8211; DECN"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">Jan. 15, 2021<\/span> \/PRNewswire\/ &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Decision Diagnostics Corporation (&#8220;Decision Diagnostics&#8221; or the &#8220;Company&#8221;) (OTCMKTS: DECN) and certain of its officers.\u00a0The class action, filed in <span class=\"xn-location\">United States<\/span> District Court for the Central District of <span class=\"xn-location\">California<\/span>, and docketed under 21-cv-00418, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Decision Diagnostics securities between <span class=\"xn-chron\">March 3, 2020<\/span> and <span class=\"xn-chron\">December 17, 2020<\/span>, both dates inclusive (the &#8220;Class Period&#8221;), seeking to recover damages caused by Defendants&#8217; violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) and Rule <span class=\"xn-money\">10b<\/span>-5 promulgated thereunder, against the Company and certain of its top officials.<\/p>\n<p>If you are a shareholder who purchased Decision Diagnostics securities during the Class Period, you have until <span class=\"xn-chron\">March 16<\/span>, 2021\u00a0to ask the Court to appoint you as Lead Plaintiff for the class.\u00a0A copy of the Complaint can be obtained at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3039415-1&amp;h=2799529365&amp;u=http%3A%2F%2Fwww.pomerantzlaw.com%2F&amp;a=www.pomerantzlaw.com\" rel=\"nofollow noopener noreferrer\">www.pomerantzlaw.com<\/a>.\u00a0To discuss this action, contact <span class=\"xn-person\">Robert S. Willoughby<\/span> at <a target=\"_blank\" href=\"mailto:newaction@pomlaw.com\" rel=\"nofollow noopener noreferrer\">newaction@pomlaw.com<\/a>\u00a0or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.\u00a0 <\/p>\n<p class=\"prntac\">\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3039415-1&amp;h=2424009011&amp;u=https%3A%2F%2Fpomlaw.com%2Flearn-more-form%3Fcompany%3DDECN&amp;a=%5BClick+here+for+information+about+joining+the+class+action%5D\" rel=\"nofollow noopener noreferrer\"><br \/>\n          <b>[Click here for information about joining the class action]<\/b><br \/>\n        <\/a>\n      <\/p>\n<p>Decision Diagnostics purportedly offers, among other products and services, prescription and non-prescription diagnostics and home testing products.<\/p>\n<p>From <span class=\"xn-chron\">March 2020<\/span> to at least <span class=\"xn-chron\">June 2020<\/span>, Defendants claimed that the Company had developed a finger-prick blood test that could detect COVID-19 in less than one minute.\u00a0Defendants also made various representations regarding the Company&#8217;s progress towards achieving U.S. Food and Drug Administration (&#8220;FDA&#8221;) emergency use authorization (&#8220;EUA&#8221;)\u00a0for this purported COVID-19 finger-prick blood test.<\/p>\n<p>The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, and failed to disclose material adverse facts about the Company&#8217;s business, operational, and compliance policies.\u00a0Specifically, Defendants made false and\/or misleading statements and failed to disclose to investors that: (i) Decision Diagnostics had not developed any viable COVID-19 test, much less a test that could detect COVID-19 in less than one minute; (ii) the Company could not meet the FDA&#8217;s EUA testing requirements for its purported COVID-19 test; (iii) accordingly, Defendants had misrepresented the timeline within which it could realistically bring its COVID-19 test to market; (iv) all the foregoing subjected Defendants to an increased risk of regulatory oversight and enforcement; and (v) as a result, Defendants&#8217; public statements were materially false and misleading at all relevant times.<\/p>\n<p>On <span class=\"xn-chron\">December 17, 2020<\/span>, the SEC filed a complaint in federal court against Defendants, alleging that they had issued a series of press releases that falsely claimed that Decision Diagnostics had developed a finger-prick blood test that could detect COVID-19 in less than one minute (the &#8220;SEC Complaint&#8221;).\u00a0According to the SEC Complaint, from <span class=\"xn-chron\">March 2020<\/span> to at least <span class=\"xn-chron\">June 2020<\/span>, Defendants made false and misleading statements about the existence of Decision Diagnostics&#8217; COVID-19 device and progress towards achieving FDA EUA for that device. \u00a0As alleged, at the time of these claims, Decision Diagnostics lacked a proven method for detecting the virus and had no physical testing device. \u00a0The SEC Complaint further alleged that the statements created the misleading impression that Decision Diagnostics would soon introduce the COVID-19 test to the market, which led to surges in the price and trading volume of the Company&#8217;s stock.<\/p>\n<p>Following the filing of the SEC Complaint, Decision Diagnostics&#8217; common share price fell <span class=\"xn-money\">$0.06<\/span> per share, or 60%, to close at <span class=\"xn-money\">$0.04<\/span> per share on <span class=\"xn-chron\">December 18, 2020<\/span>.<\/p>\n<p>The Pomerantz Firm, with offices in <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">Chicago<\/span>, <span class=\"xn-location\">Los Angeles<\/span>, and <span class=\"xn-location\">Paris<\/span> is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late <span class=\"xn-person\">Abraham L. Pomerantz<\/span>, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3039415-1&amp;h=2799529365&amp;u=http%3A%2F%2Fwww.pomerantzlaw.com%2F&amp;a=www.pomerantzlaw.com\" rel=\"nofollow noopener noreferrer\">www.pomerantzlaw.com<\/a><\/p>\n<p>\n        <b>CONTACT:<br \/><\/b><br \/>\n        <span class=\"xn-person\">Robert S. Willoughby<\/span><br \/>\n        <br \/>Pomerantz LLP<br \/><a target=\"_blank\" href=\"mailto:rswilloughby@pomlaw.com\" rel=\"nofollow noopener noreferrer\">rswilloughby@pomlaw.com<\/a>\u00a0<br \/>888-476-6529 ext. 7980<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC50958&amp;sd=2021-01-15\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers---decn-301209620.html\">http:\/\/www.prnewswire.com\/news-releases\/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers&#8212;decn-301209620.html<\/a><\/p>\n<p>SOURCE  Pomerantz LLP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DC50958&amp;Transmission_Id=202101152348PR_NEWS_USPR_____DC50958&amp;DateId=20210115\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire NEW YORK, Jan. 15, 2021 \/PRNewswire\/ &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Decision Diagnostics Corporation (&#8220;Decision Diagnostics&#8221; or the &#8220;Company&#8221;) (OTCMKTS: DECN) and certain of its officers.\u00a0The class action, filed in United States District Court for the Central District of California, and docketed under 21-cv-00418, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Decision Diagnostics securities between March 3, 2020 and December 17, 2020, both dates inclusive (the &#8220;Class Period&#8221;), seeking to recover damages caused by Defendants&#8217; violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers-decn\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pomerantz Law Firm Announces the Filing of a Class Action against Decision Diagnostics Corporation and Certain Officers  &#8211; DECN&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-416103","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pomerantz Law Firm Announces the Filing of a Class Action against Decision Diagnostics Corporation and Certain Officers - DECN - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers-decn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pomerantz Law Firm Announces the Filing of a Class Action against Decision Diagnostics Corporation and Certain Officers - DECN - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, Jan. 15, 2021 \/PRNewswire\/ &#8212; Pomerantz LLP announces that a class action lawsuit has been filed against Decision Diagnostics Corporation (&#8220;Decision Diagnostics&#8221; or the &#8220;Company&#8221;) (OTCMKTS: DECN) and certain of its officers.\u00a0The class action, filed in United States District Court for the Central District of California, and docketed under 21-cv-00418, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Decision Diagnostics securities between March 3, 2020 and December 17, 2020, both dates inclusive (the &#8220;Class Period&#8221;), seeking to recover damages caused by Defendants&#8217; violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 &hellip; Continue reading &quot;Pomerantz Law Firm Announces the Filing of a Class Action against Decision Diagnostics Corporation and Certain Officers &#8211; DECN&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers-decn\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-16T04:52:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC50958&amp;sd=2021-01-15\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers-decn\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers-decn\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Pomerantz Law Firm Announces the Filing of a Class Action against Decision Diagnostics Corporation and Certain Officers &#8211; 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Pomerantz LLP announces that a class action lawsuit has been filed against Decision Diagnostics Corporation (&#8220;Decision Diagnostics&#8221; or the &#8220;Company&#8221;) (OTCMKTS: DECN) and certain of its officers.\u00a0The class action, filed in United States District Court for the Central District of California, and docketed under 21-cv-00418, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Decision Diagnostics securities between March 3, 2020 and December 17, 2020, both dates inclusive (the &#8220;Class Period&#8221;), seeking to recover damages caused by Defendants&#8217; violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 &hellip; Continue reading \"Pomerantz Law Firm Announces the Filing of a Class Action against Decision Diagnostics Corporation and Certain Officers &#8211; DECN\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers-decn\/","og_site_name":"Market Newsdesk","article_published_time":"2021-01-16T04:52:09+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC50958&amp;sd=2021-01-15","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers-decn\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-decision-diagnostics-corporation-and-certain-officers-decn\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Pomerantz Law Firm Announces the Filing of a Class Action against Decision Diagnostics Corporation and Certain Officers &#8211; 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