SUMMARY NOTICE OF (I) PROPOSED SETTLEMENT; (II) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES; AND (III) SETTLEMENT HEARING

PHILADELPHIA, Sept. 14, 2026 /PRNewswire/ -- The following release was issued by RG/2 Claims Administration LLC, as Settlement Administrator.

UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK

To:    All persons and entities who purchased or otherwise acquired Co-Diagnostics, Inc. common stock or call options, or sold put options, during the period May 12, 2022 through the close of the market on August 11, 2022 (4:00 p.m. ET), inclusive, and were damaged thereby. (the "Class")^[1]

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that Court-appointed Lead Plaintiff, Stadium Capital LLC, on behalf of itself and the Court-certified Class in the above-captioned class action ("Action"), and Co-Diagnostics, Inc., Dwight H. Egan, and Brian L. Brown (collectively, "Defendants," and together with Lead Plaintiff, the "Parties"), have reached a proposed settlement for $6,500,000.00 (the "Settlement"), that, if approved by the Court, will resolve all claims in the Action.

A hearing will be held on December 8, 2026, at 2:00 p.m., before the Honorable Arun Subramanian, United States District Judge, at the Southern District of New York, 500 Pearl St., Courtroom 15A, New York, NY 10007, for the purpose of determining: a) whether the proposed Settlement of the claims alleged in the Action for a total value of Six Million Five Hundred Thousand Dollars ($6,500,000.00), is fair, reasonable, and adequate and should be approved by the Court; b) whether the Action should be dismissed with prejudice against the Defendants as set forth in the Stipulation; c) whether the proposed Plan of Allocation is fair and reasonable and should be approved by the Court; d) whether Lead Counsel's request for an award of attorneys' fees and reimbursement of Litigation Expenses should be approved by the Court; and e) any other relief the Court deems necessary to effectuate the terms of the Settlement.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THIS ACTION, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. 

If you have not received a detailed Notice of (i) Proposed Settlement; (ii) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses; and (iii) Settlement Fairness Hearing ("Notice") and Claim Form, you may obtain copies by contacting the Claims Administrator by mail at Stadium Capital LLC v. Co-Diagnostics, Inc., et. al., c/o RG/2, P.O. Box 59479, Philadelphia, PA 19102-9479, by email at [email protected], by telephone at 1-866-742-4955, or by the website at www.co-diagnosticssecuritieslitigation.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Claim Form by mail (postmarked no later than January 6, 2027), or electronically no later than January 6, 2027, establishing that you are entitled to recover.  If you are a Class Member and do not timely submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by all releases, judgments or orders entered by the Court relating to the Settlement.

If you are a Class Member, you have the right to object to the Settlement, the Plan of Allocation, or the attorneys' fee and Litigation Expense applications, or otherwise request to be heard. To object, you must submit a written objection in accordance with the procedures described in the more detailed Notice, referred to above. Any written objection must be delivered to the following recipients so that it is received no later than November 17, 2026: (a) the Clerk's Office, United States District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007; (b) Jason A. Uris, Kaplan Fox & Kilsheimer LLP, 800 Third Avenue, 38th Floor, New York, NY 10022; and (c) Douglas W. Greene, Baker & Hostetler LLP, 45 Rockefeller Plaza, New York, NY 10111. Note that the Court can only approve or deny the Settlement, not change the terms of the Settlement.

If you are a Class Member and wish to exclude yourself from the Class, you must submit a request for exclusion such that it is received no later than November 17, 2026, in accordance with the procedures described in the Notice. If you properly exclude yourself from the Class, you will not be bound by any releases, judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the net proceeds of the Settlement. Excluding yourself is the only option that allows you to be part of any other current or future lawsuit against Defendants or any of the other released parties concerning the claims being resolved by the Settlement. Please note, however, that if you decide to exclude yourself from the Class, you may be time-barred from asserting the claims covered by the Action by a statute of repose.

PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, DEFENDANTS OR THEIR COUNSEL REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed below:

Jason A. Uris
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, NY 10022
(212) 687-1980
[email protected] 

Dated:   September 14, 2026                                    

By Order of the Court
United States District Court
Southern District of New York

SOURCE:  Claims Administrator, RG/2 Claims Administration LLC, P.O. Box 59479, Philadelphia, PA 19102-9479, Telephone: 866-742-4955, Facsimile: 215-827-5551, Email: [email protected].

^[1] Excluded from the Class are: Defendants and Defendants' immediate family members, any person, firm, trust, corporation, officer, director or other individual or entity in which any Defendant has a controlling interest or which is related to or affiliated with any Defendant, and the legal representatives, agents, affiliates, heirs, successors-in-interest, or assigns of any such excluded party.