Atossa Genetics Inc (NASDAQ:ATOS) Shareholder Class Action Lawsuit

A lawsuit has been filed in the United States District Court for The Western District by an investor. The investor had bought shares of Atossa Genetics Inc. Atossa Genetics Inc. has been accused of making misleading and false statements between November 8, 2012 and October 4, 2013.

If you have purchased shares of Atossa Genetics Inc (NASDAQ:ATOS) between November 8, 2012 and October 4, 2013, call 1-800-934-2921 right now to protect your rights.

Filing deadline:  12/09/2013

The plaintiff is alleging that the company violated federal security laws on behalf of all entities or persons who acquired or purchased shares of Atossa Genetics Inc. The plaintiff has also stated that Atossa Genetics Inc. had acquired but had failed to submit an additional 501 K that was required to received clearance from The Food And Drug Administration.

Atossa Genetics Inc. had made material changes to its process of collecting nipple aspirate fluid specimens. The plaintiff has stated that the company had improperly marketed its product by using promotional claims to sell the mammary aspiration specimen cytology test, or MASCT device and the ForeCyte Breast Health Test. The lawsuit additionally claims that Atossa Genetics Inc. had violated Food And Drug Administration Manufacturing Practices Regulations, and as a result of this, the company’s statements were misleading and false.

Atossa Genetics has been experiencing rising net losses. In fact, the company reported that their net loss had rose from $3.44 million 2011 to $5.08 million in 2012. The company has also experience a decline in share value. Shares Of Atossa Genetics Inc. had dropped from $12.37 per share in March to $4.40 in August 2013. That is a decrease of nearly 65 percent.

Atossa Genetics Inc received a warning letter from The Food And Drug Administration, and on October 4,2013, the company stated that they were removing the MASCT device and ForeCyte Breast Health Test from the market.

Own shares of Atossa Genetics Inc (NASDAQ:ATOS)? Contact us to protect your rights.

If you have purchased shares of Atossa Genetics Inc (NASDAQ:ATOS) between November 8, 2012 and October 4, 2013, call 1-800-934-2921 right now to protect your rights. Complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights. 

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