NEW YORK, April 30, 2020 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of SCWorx Corp. ("SCWorx " or "the Company") (NASDAQ: WORX). Investors who purchased SCWorx securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/worx.
The investigation concerns whether SCWorx and certain of its officers and/or directors have violated federal securities laws.
On April 13, 2020, SCWorx announced that it had receive 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, SCWorx's stock price increased by $9.77, closing at $12.02 per share on April 13, 2020. Then, on April 17, 2020, Hindenburg Research published a report questioning the validity of SCWorx's purported deal, which it characterized as "completely bogus." Among other issues, the Hindenburg Research report focused on the background of SCWorx's Chief Executive Officer Marc Schessel, questioned the credibility of the Company's supplier Promedical, and highlighted the relatively small size of the Company's client Rethink My Healthcare. On this news, SCWorx's stock price fell sharply over the following trading sessions. On April 22, 2020, the U.S. Securities and Exchange Commission halted trading of SCWorx's stock.
If you are aware of any facts relating to this investigation, or purchased SCWorx shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/worx. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
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