BOSTON, Nov. 25, 2015 /PRNewswire/ -- Block & Leviton
LLP (www.blockesq.com), a securities litigation firm representing
investors nationwide, is investigating whether ERBA Diagnostics,
Inc. ("ERBA" or the "Company") (NYSE MKT: ERB) and certain of
its officers and/or directors violated the federal securities laws
in light of announcements that the Company has found it necessary
to restate its financial statements for the last two
years.
On Friday, November 20, 2015, in its 8-K filing with the
SEC, ERBA disclosed that it intended to restate its financial
statements for the years ended 2013 and 2014, as well as its
quarterly reports for the periods ended March 31, 2015 and June
30, 2015. The Company stated that during this time,
"internal control over financial reporting was not effective
because there was a material weakness in the Company's internal
control over financial reporting as a result of the Company's
inadequate staffing of its financial accounting office, which had
resulted in, among other things, at times the Company being unable
to provide timely account reconciliations."
Since this disclosure, shares of ERBA have fallen nearly 35%,
representing a loss of market capitalization of more than
$15 million, and resulting in
significant losses to investors.
If you purchased or otherwise acquired ERBA securities on or
before November 20, 2015, and have questions about your legal
rights or possess information relevant to this investigation,
please contact either attorney Steven Harte at (617)
398-5600 or email him at Steven@blockesq.com or attorney
Brad Vettraino at (617) 398-5600 or
by email at Bradley@blockesq.com. Confidentiality to
whistleblowers or others with relevant information is assured.
This notice may constitute attorney advertising.
Contact:
BLOCK & LEVITON LLP
Steven Harte
155 Federal St
Boston MA 02110
(617) 398-5600
Steven@blockesq.com
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SOURCE Block & Leviton LLP