Roka Bioscience, Inc. ("Roka" or the Company) is an American company that develops molecular assays and instrument systems for the food safety industry.

According to the law firm press release, the lawsuit alleges Roka’s offering documents in its IPO contained material misstatements because Roka failed to disclose known trends and uncertainties about the drastic decline in demand for its Atlas instruments existing at the time of the IPO. On November 6, 2014, the Company announced a surprise loss of ($0.64) per share in the third quarter of 2014. The Company admitted that it had not placed any Atlas instruments in that quarter. That day, Roka’s stock price fell from $8.34 to $3.00, damaging investors.

On April 21, 2015, the Court issued an Order appointing lead Plaintiff and approving lead Counsel. Lead Plaintiff filed an amended Complaint on June 23.

A Stipulation of Settlement was filed on May 20, 2016. This Settlement was preliminarily approved on June 28. On November 10, the Court issued an Order granting final approval of the Settlement and dismissing this case.