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In December, the SEC filed a
complaint against Decision Diagnostics and its CEO, Keith
Berman, for falsely claiming the company had developed a finger
prick blood test that could instantaneously detect COVID-19.
As stated in its complaint, the SEC temporarily suspended trading
of Decision Diagnostics securities on April 23, 2020.
Now, investors have brought
suit as well. Three institutional investors
claim the company – which was already in financial
distress as a result of
alleged misappropriations by Berman – falsely
disclosed it was developing an at-home COVID-19 test nearing