Investor Alert: Kaplan Fox Investigates SCWorx Corp. For Potential Securities Fraud

PR Newswire

NEW YORK, April 28, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of SCWorx Corp. ("SCWorx" or the "Company") (Nasdaq: WORX). Investors who purchased SCWorx common stock or other securities may be affected.

On April 13, 2020, before the market opened, SCWorx issued a press release announcing that it had received a committed purchase order for two million COVID-19 Rapid Testing Units from Rethink My Healthcare ("Rethink"), with provision for additional weekly orders of two million units for 23 weeks, valued at $35 million per week.

Following this news, SCWorx shares skyrocketed by $9.77 per share, over 400%, to close at $12.02 per share on April 13, 2020.

Then, on April 17, 2020, Hindenburg Research issued a report questioning the validity of the deal, calling it "completely bogus," based on Chief Executive Officer Marc Schessel's checkered past, the questionable credibility of supplier Promedical, as well as difficulty believing that Rethink, which Hindenburg Research alleges to be a tiny, newly formed operation, would be able to come up with $35 million per week.

On April 22, 2020, the SEC halted trading of the Company's stock.

If you purchased SCWorx common stock or other SCWorx securities and would like to discuss our investigation, please contact us by emailing [email protected] or by calling (646) 315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:

Frederic S. FoxKAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: [email protected]

Laurence D. KingKAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4700
Fax: (415) 772-4707
E-mail: [email protected]

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