CEMI - Wolf Popper LLP Announces Investigation on Behalf of Investors in Chembio Diagnostics Inc.

NEW YORK, June 23, 2020 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Chembio Diagnostics, Inc. (NASDAQ: CEMI) common stock between March 12, 2020 and June 16, 2020.

On April 15, 2020, Chembio announced it received an Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for the company's DPP COVID-19 antibody test. After the market closed on June 16, 2020, the FDA announced it revoked the EUA of the DPP COVID-19 test due to performance concerns with the accuracy of the test. On this news Chembio's stock price fell the next day $6.04 per share to $3.89, or down 60.8% on very heavy volume.

For more information, Chembio investors with trading losses of over $50,000 should contact Joshua Ruthizer at (212) 451-9668 or at jruthizer@wolfpopper.com.

Wolf Popper has successfully recovered billions of dollars for defrauded investors.  Wolf Popper's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation.  For more information about Wolf Popper, please visit the Firm's website at www.wolfpopper.com.

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Wolf Popper LLP

Joshua W. Ruthizer
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9668
Email: jruthizer@wolfpopper.com

SOURCE Wolf Popper LLP