Atossa Genetics Inc (NASDAQ:ATOS) Investor Investigation Concerning Potential Securities Law Violations

If you purchased shares of Atossa Genetics Inc (NASDAQ:ATOS), you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Atossa Genetics
Affected Securities: 

October 8, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Atossa Genetics Inc (NASDAQ:ATOS) shares over potential securities laws violations by Atossa Genetics and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Atossa Genetics Inc (NASDAQ:ATOS) concerning whether a series of statements by Atossa Genetics regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Atossa Genetics Inc reported that its Net Loss increased from $3.44 million in 2011 to $5.08 million in 2012.

Shares of Atossa Genetics Inc (NASDAQ:ATOS) declined from $12.37 per share in March 2013 to $4.40 in August 2013.

Then on October, 4, 2013 Atossa Genetics Inc. announced that it initiated a voluntary recall to remove the ForeCYTE Breast Health Test and the Mammary Aspiration Specimen Cytology Test (“MASCT”) device from the market. Atossa Genetics Inc. said that the recall includes the MASCT System Kit and Patient Sample Kit.

Atossa Genetics Inc. adiviced distributors and customers to stop using affected products and return them to Atossa Genetics Inc. immediately.

Atossa Genetics Inc. said it is removing the ForeCYTE Breast Health Test and the MASCT device from the market to address concerns raised by the U.S. Food and Drug Administration (“FDA”) in a warning letter received by Atossa in February 2013.

Shares of Atossa Genetics Inc (NASDAQ:ATOS) declined from $7.48 per share on Sept. 18, 2013, respectively $5.35 per share on Oct. 4, 2013, to as low as $2.54 per share on Oct. 7, 2013.