SOURCE: Atossa Genetics Inc

Atossa Genetics Inc

October 31, 2014 08:00 ET

Atossa Genetics Inc. Wins Dismissal of Securities Class Action Litigation

SEATTLE, WA--(Marketwired - Oct 31, 2014) - Atossa Genetics Inc. (NASDAQ: ATOS) today announced that the U.S. District Court for the Western District of Washington has granted the defendants' motion to dismiss the amended complaint in the securities class action suit filed on October 10, 2013 against Atossa and certain of its officers, directors and underwriters in its initial public offering. 

The District Court has now dismissed with prejudice all claims against Atossa and all other defendants. The plaintiffs have indicated that they intend to appeal the District Court's decision. 

About Atossa Genetics

Atossa Genetics Inc. is focused on improving breast health through the development of laboratory services, medical devices and therapeutics. The laboratory services are being developed by its subsidiary, The National Reference Laboratory for Breast Health, Inc. The laboratory services and the Company's medical devices are being developed so they can be used as companions to therapeutics to treat various breast health conditions. For additional information, please visit www.atossagenetics.com.

Forward-Looking Statements

Forward-looking statements in this press release are subject to risks and uncertainties that may cause actual results to differ materially from the anticipated or estimated future results, including the risks and uncertainties associated with plaintiffs' potential appeal of the district court's order granting defendants' motion to dismiss, the U.S. Court of Appeals for the Ninth Circuit's ruling on plaintiffs' potential appeal, and the ultimate resolution of the securities class action, and other risks detailed from time to time in Atossa's filings with the Securities and Exchange Commission, including without limitation its periodic reports on Form 10-K and 10-Q, each as amended and supplemented from time to time.