According to the Complaint, Chembio Diagnostics, Inc. describes itself as a leading point-of-care diagnostics company focused on detecting and diagnosing infectious diseases.

Throughout the Section 10(b) Class Period, the Company represented that its DPP COVID-19 serological POC test for the detection of IgM and IgG antibodies aided in determining current or past exposure to the COVID-19 virus, that its test provides high sensitivity and specificity, and was 100% accurate. The Complaint alleges that those statements were false and misleading, and that Plaintiffs and other Class members have suffered significant losses and damages as a result of Defendants’ false and misleading statements of fact and omissions of material facts.