Safirstein Metcalf LLP announces that a class action has been filed on behalf of those who purchased securities of Akers Biosciences, Inc. (“Akers” or the “Company”) (NASDAQ:AKER) between May 15, 2017 and June 5, 2018, both dates inclusive (the “Class Period”).
If you purchased Akers Biosciences securities during the Class Period and would like more information about the shareholder class action, please contact Safirstein Metcalf LLP at 1-800-221-0015, or email info@SafirsteinMetcalf.com
If you wish to serve as lead plaintiff, you must move the Court no later than August 13, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member.
According to the lawsuit, throughout the Class Period 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.