openPR Logo
Press release

Lawsuit filed for Investors in shares of SCWorx Corp. (NASDAQ: WORX)

05-07-2020 12:02 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in SCWorx Corp. (NASDAQ: WORX) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in SCWorx Corp. (NASDAQ: WORX) shares over alleged securities laws violations.

An investor, who purchased shares of SCWorx Corp. (NASDAQ: WORX), filed a lawsuit over alleged violations of Federal Securities Laws by SCWorx Corp.

Investors who purchased shares of SCWorx Corp. (NASDAQ: WORX) have certain options and for certain investors are short and strict deadlines running. Deadline: June 29, 2020. NASDAQ: WORX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based SCWorx Corp. provides software solutions for the management of health care providers' foundational business applications.

On April 13, 2020, SCWorx Corp announced that it had received a committed purchase order of two million COVID-19 rapid testing kits, "with provision for additional weekly orders of 2 million units for 23 weeks, valued at $35M per week."

Shares of SCWorx Corp. (NASDAQ: WORX) rose on April 13, 2020 to as high as $14.88 per share.

On April 17, 2020, a report was issued doubting the validity of the deal, calling it "completely bogus." The report alleged that the COVID-19 test supplier that SCWorx is buying from, Promedical, has a Chief Executive Officer "who formerly ran another business accused of defrauding its investors and customers" and "was also alleged to have falsified his medical credentials." According to the report, Promedical claimed to the FDA and regulators in Australia to be offering COVID-19 test kits manufactured by Wondfo, but Wondfo "disavowed any relationship" and the buyer that SCWorx claimed to have lined up does not appear to be "capable of handling hundreds of millions of dollars in orders."

Shares of SCWorx Corp. (NASDAQ: WORX) declined on April 20, 2020 to as low as $5.55 per share.

The plaintiff claims that between April 13, 2020 and April 17, 2020, the Defendants failed to disclose to investors that SCWorx's supplier for COVID-19 tests had previously misrepresented its operations, that SCWorx's buyer was a small company that was unlikely to adequately support the purported volume of orders for COVID-19 tests, that, as a result, the Company's purchase order for COVID-19 tests had been overstated or entirely fabricated, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of SCWorx Corp. (NASDAQ: WORX) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lawsuit filed for Investors in shares of SCWorx Corp. (NASDAQ: WORX) here

News-ID: 2036840 • Views:

More Releases from Shareholders Foundation

Lawsuit filed for Investors who Lost Money with Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN)
Lawsuit filed for Investors who Lost Money with Maxeon Solar Technologies, Ltd. …
An investor, who purchased shares of Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), filed a lawsuit over alleged violations of Federal Securities Laws by Maxeon Solar Technologies, Ltd. in connection with certain allegedly false and misleading statements made between November 15, 2023 and May 29, 2024. Investors who purchased a significant amount of shares of Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) between November 15, 2023 and May 29, 2024, have certain options
Investigation announced for Investors who lost money with shares of Cibus, Inc. (NASDAQ: CBUS)
Investigation announced for Investors who lost money with shares of Cibus, Inc. …
An investigation was announced on behalf of investors of Cibus, Inc. (NASDAQ: CBUS) shares over potential securities laws violations by Cibus, Inc. Investors who purchased shares of Cibus, Inc. (NASDAQ: CBUS), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Cibus, Inc. (NASDAQ: CBUS) concerning whether
Investigation announced for Investors in GrafTech International Ltd. (NYSE: EAF) over potential Wrongdoing
Investigation announced for Investors in GrafTech International Ltd. (NYSE: EAF) …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of GrafTech International Ltd. Investors who are current long term investors in GrafTech International Ltd. (NYSE: EAF) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for current long term investors in NYSE: EAF stocks follows a lawsuit filed against GrafTech International
Lawsuit filed for Long-Term Investors of Amplitude, Inc. (NASDAQ: AMPL) against certain Directors of Amplitude, Inc.
Lawsuit filed for Long-Term Investors of Amplitude, Inc. (NASDAQ: AMPL) against …
A long-term investor in shares of Amplitude, Inc. (NASDAQ: AMPL) filed a lawsuit against certain directors of Amplitude, Inc. over alleged breaches of fiduciary duties. Investors who are current long term investors in Amplitude, Inc. (NASDAQ: AMPL) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The plaintiff alleges certain current and former insiders of Amplitude, Inc. profited from misrepresentations they made about

All 5 Releases


More Releases for SCWorx

Investigation announced for Long-Term Investors in shares of SCWorx Corp. (NASDA …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of SCWorx Corp. Investors who are current long term investors in SCWorx Corp. (NASDAQ: WORX) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for current long term investors in NASDAQ: WORX stocks follows a lawsuit filed against SCWorx Corp. over
Deadline on June 29th coming up in Lawsuit filed for Investors in shares of SCWo …
A deadline is coming up on June 29, 2020 in the lawsuit filed for certain investors of SCWorx Corp. (NASDAQ: WORX over alleged securities laws violations by SCWorx Corp.. Investors who purchased shares of SCWorx Corp. (NASDAQ: WORX) have certain options and there are strict and short deadlines running. Deadline: June 29, 2020. NASDAQ: WORX stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. According to
Big Data in Healthcare Market Analysis by Business Methodologies, Financial Over …
Market Research Future Published a Cooked Research Report on Big Data in Healthcare Market Research Report. The global big data in healthcare market is anticipated to reflect a positive growth trend in the forthcoming years and reach a significant valuation by the end 2027, reveals Market Research Future (MRFR) in a minutely analyzed research report. Big data in healthcare is gaining prominence as it can be used in the prediction of
Big Data in Healthcare Market Will Watch a Sensational Development by 2027: Indu …
Market Research Future has added a report titled “Big Data in Healthcare Market Research Report - Global Forecast to 2027” to its offering. The report provides an in-depth analysis of regional data and an accurate projection of the market size and share of the Top 10 market players across the globe. The Global Big Data in Healthcare Market is anticipated to reflect a positive growth trend in the forthcoming years and