Defendant Name: Chembio Diagnostics, Inc.

Defendant Type: Public Company
SIC Code: 6282
CUSIP: 16357220

Initial Case Details

Legal Case Name In the Matter of Chembio Diagnostics, Inc.
First Document Date 02-Mar-2023
Initial Filing Format Administrative Action
File Number 3-21320
Allegation Type Securities Offering

Violations Alleged

Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)

Resolutions

First Resolution Date 02-Mar-2023
Headline Total Penalty and Disgorgement $500,000

Related Documents:

33-11163 02-Mar-2023 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, and Imposing a Cease-and-Desist Order
The Commission stated: "This matter involves a material misrepresentation made by Chembio concerning the performance of a COVID-19 antibody test the company developed and marketed during the spring of 2020 (“COVID-19 Test”)."
33-11163-s 02-Mar-2023 Administrative Summary
SEC Charges Medical Test Manufacturer with Misrepresenting Performance of Covid-19 Test
The SEC "announced settled charges against Chembio Diagnostics, Inc., a New York-based manufacturer of medical diagnostic tests, for making a false and misleading statement about the performance of its COVID-19 antibody test shortly before a securities offering in which it raised millions of dollars."