RADNOR, Pa., Feb. 19, 2022 /PRNewswire/ — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Talis Biomedical Corporation (“Talis”) (NASDAQ: TLIS). The action charges Talis with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects. As a result of Talis’ materially misleading statements to the public, Talis investors have suffered significant losses.
Kessler Topaz is one of the world’s foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.
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LEAD PLAINTIFF DEADLINE: March 8, 2022
CLASS PERIOD: February 12, 2021 through January 7, 2022
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Email at [email protected]
TALIS’ ALLEGED MISCONDUCT
Talis develops diagnostic tests to enable accurate, reliable, low cost, and rapid molecular testing for infectious diseases. Specifically, the Talis One tests are being developed for respiratory infections, infections related to women’s health, and sexually transmitted infections. In its Registration Statement, Talis disclosed that in January 2021, the company submitted a request for an Emergency Use Authorization (“EUA”) to the U.S. Food and Drug Administration (“FDA”) for its Talis One platform to perform COVID-19 testing.
Then, on March 8, 2021, Talis announced that it had withdrawn its EUA application for the Talis One COVID-19 test. In a press release, Talis revealed that “[i]n late February, the FDA informed the company that it cannot ensure the comparator assay used in the primary study has sufficient sensitivity to support Talis’s EUA application.” Following this news, Talis’ stock price fell $1.80, or 12%, to close at $12.85 per share on March 8, 2021.
On August 10, 2021, Talis revealed that its “development timelines have been extended by delays in the launching of [Talis’] COVID-19 test and manufacturing scale.” On this news, Talis’ stock price fell $0.58 per share, or 6%, to close at $8.39 per share on August 11, 2021. Then, on August 30, 2021, Talis announced the resignation of its Chief Executive Officer (“CEO”), Brian Coe. On this news, Talis’ stock price fell $1.00 per share, or 11%, to close at $8.06 per share on August 31, 2021. Finally, on December 8, 2021, Talis announced that Brian Blaser, who had been appointed CEO on November 15, 2021, had stepped down from his position at Talis after only a week.
On this news, Talis’ stock price fell $0.55 per share, or 11.39%, to close at $4.28 per share on December 8, 2021.
WHAT CAN I DO?
Talis investors may, no later than March 8, 2022, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Talis investors who have suffered significant losses to contact the firm directly to acquire more information.
CLICK HERE TO SIGN UP FOR THE CASE
WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. At the end of the day, we have succeeded if the bad guys pay up, and if you recover your assets. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
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SOURCE Kessler Topaz Meltzer & Check, LLP