Lets just be clear here, the class action focuses on Ellume's compensation for those people who experienced false positives and how they were compensated and the issue as I believe has been recalled and rectified. So to me the scope and narrow and contained as i read it.
However for those interested Ellume's investor relations provided this:Class Action Lawsuit
On March 22, Ellume USA LLC was named as a defendant in a putative class-action lawsuit filed in the United States in Maryland. The lawsuit arises out of the recall that Ellume announced in 2021 of its at-home COVID-19 test kits due to the higher than expected risk of false positive results. Two individual plaintiffs challenge Ellume's alleged practice of not providing refunds to all individuals who purchased an affected test kit. They have asserted a single claim for unjust enrichment and seek a court order directing Ellume to provide cash refunds to all class members who purchased a recalled test kit. The suit does not seek any other damages, such as damages for losses incurred as a result of cancelled plans due to a positive test result. Although the lawsuit was brought by just two individuals, they seek to represent and recover refunds for a class of more than 2.2 million people who allegedly purchased a recalled test kit.Based on its preliminary investigation Ellume believes it has strong defenses to plaintiff's claims. We have retained Covington & Burling -- the same U.S. law firm that assisted with the recall, and which has significant experience litigating class actions -- to defend this case. Our initial strategy will be to file a motion to enforce the arbitration clause that plaintiffs were required to accept before they could use the test kits. If that motion is successful, the two plaintiffs will be required to proceed in arbitration, and they may not seek damages for anyone else.
We wish to provide reassurance to our investors that we will continue to work with our U.S. law firm to bring this matter to a close. The Company remains confident in the underlying fundamentals of the business and growth potential. As the COVID-19 testing market transitions from a pandemic to an endemic environment, we believe rapid accurate testing will continue to provide peace of mind for those seeking to protect vulnerable family, friends and co-workers.
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Lets just be clear here, the class action focuses on Ellume's...
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