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Co-Diagnostics Inc.
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Order | Filed: April 19, 2024 | Entered: April 19, 2024 Stadium Capital LLC v. Co-Diagnostics, Inc. et al
Securities/Commodities | New York Southern
Memo Endorsement ~Util - Set Deadlines
MEMO ENDORSEMENT on re: 51 Letter, filed by Co-Diagnostics, Inc., Brian L. Brown, Dwight H. Egan. ENDORSEMENT: The Supreme Court's recent decision in Macquarie bars actions for pure omissions and requires a plaintiff to plead a particular statement rendered misleading by an Item 303 violation. See Macquarie Infrastructure Corp. v. Moab Partners, L. P., 2024 WL 1588706, at *5 (U.S. Apr. 12, 2024). Here, Plaintiffs identified a particular statement rendered misleading. See Am. Compl. Paragraph 49, Dkt. 31. But that statement merely recounts earnings, and Plaintiffs don't allege that the reported earnings were false. As the Court noted in its opinion on the motion to dismiss: "Accurate statements about past performance are self evidently not actionable[.]" Nadoff v. Duane Reade, Inc., 107 F. App'x 250, 252 (2d Cir. 2004). So the Item 303 claim is DISMISSED WITHOUT PREJUDICE. Plaintiffs may file an amended complaint limited to identifying a statement or statements in the relevant 10-Q rendered misleading by the alleged Item 303 violation. That amendment is due by April 26, 2024. By May 3, 2024, Defendants may file a motion to dismiss limited to the new portions of the complaint. SO ORDERED. ( Amended Pleadings due by 4/26/2024., Motions due by 5/3/2024.) (Signed by Judge Arun Subramanian on 4/19/2024) (vfr)
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Misc | Filed: April 19, 2024 | Entered: April 19, 2024 Stadium Capital LLC v. Co-Diagnostics, Inc. et al
Securities/Commodities | New York Southern
Letter
LETTER addressed to Judge Arun Subramanian from Jason A. Uris dated April 19, 2024 re: Response to Defendants' April 19, 2024 letter (ECF No. 51). Document filed by Stadium Capital LLC..(Uris, Jason)
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Misc | Filed: April 19, 2024 | Entered: April 19, 2024 Stadium Capital LLC v. Co-Diagnostics, Inc. et al
Securities/Commodities | New York Southern
Letter
LETTER addressed to Judge Arun Subramanian from Douglas W. Greene dated April 19, 2024 re: U.S. Supreme Court's Decision in Macquarie Infrastructure Corp. et al. v. Moab Partners, L.P., et al.. Document filed by Brian L. Brown, Co-Diagnostics, Inc., Dwight H. Egan..(Greene, Douglas)
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