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The Rosen Law Firm, P.A. announces that it is investigating potential securities claims against Atossa Genetics, Inc. (NASDAQ:ATOS) resulting from allegations that the company may have issued materially misleading information about its business.
On October 4, 2013, after the close of trading, Atossa announced a voluntary recall of its ForeCYTE Breast Health Test Mammary Aspiration Specimen Cytology Test (MASCT). This voluntary recall includes the MASCT System Kit and Patient Sample Kit. The voluntary recall was commenced to address concerns raised in a February 2013 warning letter issued by the U.S. Food and Drug Administration (the “FDA”). In its warning letter, the FDA raised the following concerns: (1) the current instructions for use (IFU); (2) certain promotional claims used to market these devices; and (3) the need for FDA clearance for certain changes made to the Nipple Aspirate Fluid (NAF) specimen collection process identified in the current IFU. Upon disclosure of this news, shares of Atossa fell $2.47 per share or approximately 46% in trading on October 7, 2013 to close at a price of $2.85 per share.
The Rosen Law Firm is preparing a class action lawsuit as a result of this adverse information. If you purchased ATOS securities prior to October 4, 2013, you may visit the website at
http://www.rosenlegal.com to join the action. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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