NEW YORK, June 13, 2018 /PRNewswire/ -- Bernstein Liebhard LLP is investigating potential securities fraud claims on behalf of shareholders of Akers Biosciences, Inc. ("Akers" or the "Company") (NASDAQ: AKER). If you purchased Akers securities, and/or have information relating to this matter, please visit our AKERS SHAREHOLDER PAGE or contact Daniel Sadeh toll free at (877) 779-1414 or email@example.com.
On May 21, 2018, during aftermarket hours, Akers revealed that its ongoing review of the characterization of certain revenue recognition items for the quarter ended March 31, 2018 "now includes certain transactions in previous quarters." As a result, Akers stated that "the Company is unable to file its 10-Q for the quarter ended March 31, 2018 today."
On this news, Akers' stock fell $0.058 per share, or over 8%, from its previous closing price to close at $0.599 per share on May 22, 2018.
On May 29, 2018, Akers revealed "that Raymond F. Akers Jr., Ph.D has resigned as a director of the Company with immediate effect."
On this news, Akers' stock fell $0.263 per share, or over 44%, over two consecutive trading days to close at $0.326 per share on May 30, 2018.
Then, on June 1, 2018, Akers filed a Form 8-K with the SEC attaching a letter from Raymond Akers to the Company. In the letter, Mr. Akers stated that "I have resigned from the Board of Directors due to significant differences regarding the policies and practices of the Board of Directors, accounting and business practices of Management, and new Counsel. I believe this to be in the best interests of the Company, shareholders, and me."
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
Please follow us for updates on LinkedIn: https://www.linkedin.com/company/bernstein-liebhard-llp/ and Twitter: https://twitter.com/bernlieb.
ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE Bernstein Liebhard LLP