NEW YORK (360Dx) – Multiple law firms this week announced the filing of class action lawsuits against Opko Health in response to a complaint filed earlier this month by the US Securities and Exchange Commission. The SEC announced on Sept. 7 that Opko and its CEO Phillip Frost, along with 10 other individuals and 10 associated companies, were being charged with participating in market manipulation schemes that generated more than $27 million in unlawful stock sales.
The class action suits are in the investigative stages, seeking investors that purchased securities between Sept. 26, 2013 and Sept. 7, 2018. One class action complaint filed by Scott+Scott Attorneys at Law alleges that the company "failed to disclose that Opko and its Chairman and Chief Executive Officer Phillip Frost, were engaged in a pump-and-dump scheme with several other individuals and companies," and that the scheme would result in governmental scrutiny, which resulted in statements about the company's business prospects being materially false.
Opko and Frost have accused the SEC suit of containing "serious factual inaccuracies."
Trading of Opko's stock was halted by Nasdaq on Sept. 7 as a result of the lawsuit but resumed trading on the afternoon of Sept. 14.
BioAffinity Technologies said this week that the Icahn School of Medicine at Mount Sinai in New York will serve as a clinical collection site for the test validation trial of CyPath Lung, BioAffinity's non-invasive test for the early detection of lung cancer.
Agilent Technologies this week declared a quarterly dividend of $.15 per share of common stock, to be paid on Oct. 24 to all shareholders of record as of the close of business on Oct. 2.
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