The Law Offices of Frank R. Cruz Announces Investigation on Behalf of SCWorx Corp. Investors (WORX)
April 23 2020 - 8:05PM
Business Wire
The Law Offices of Frank R. Cruz announces an investigation on
behalf of SCWorx Corp. ("SCWorx" or the Company") (NASDAQ: WORX)
investors concerning the Company and its officers’ possible
violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to
participate.
On April 13, 2020, before the market opened, SCWorx announced
that it had received a committed purchase order of two million
COVID-19 rapid testing kits, “with provision for additional weekly
orders of 2 million units for 23 weeks, valued at $35M per
week.”
On this news, the Company’s share price increased by $9.77, to
close at $12.02 per share on April 13, 2020.
Then, on April 17, 2020, Hindenburg Research issued a report
doubting the validity of the deal, calling it "completely bogus,"
considering Chief Executive Officer Marc Schessel's checkered past,
questionable credibility of supplier Promedical, and the relatively
small size of its client Rethink My Healthcare.
On this news, the Company’s share price fell sharply during
trading on April 17, 2020, thereby injuring investors. On April 22,
2020, the SEC halted trading of the Company’s stock.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased SCWorx securities, have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Frank R. Cruz, of The Law
Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los
Angeles, California 90067 at 310-914-5007, by email to
info@frankcruzlaw.com, or visit our website at
www.frankcruzlaw.com. If you inquire by email please include your
mailing address, telephone number, and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20200423005980/en/
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz,
310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com
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