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Accelerate (AXDX) Product Discontinuation Case
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- In Oct. 2022, Accelerate disclosed the FDA-requested discontinuation of 2 products.
- On it, $AXDX fell 39%, losing $9M+ shareholder value.
- Now, investors may suspect Accelerate of hiding regulatory setbacks which consequently led to their losses.
On October 21, 2022, after the market closed, Accelerate (AXDX) disclosed a request from the U.S. FDA to immediately discontinue the marketing and distribution of its Accelerate Arc system and related BC Kit for a particular diagnostic use.
- On this news, $AXDX fell 39% and lost over $9 million of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that Accelerate and its executives were involved in unlawful business practices and failed to timely disclose regulatory setbacks which consequently led to their losses.
The case is already under investigation by at least one of the reputable law firms.
Failure to Disclose,
Shock Event Date
22 October 2022