SCWorx Corp.'s CEO and two other board members were hit with a lawsuit in Delaware Chancery Court claiming they pushed the health care supply chain company to begin marketing “completely bogus” Covid-19 rapid tests in a fraudulent bid to hype its struggling stock early in the pandemic.
The derivative suit accuses them of positioning SCWorx—which was in the mixed martial arts promotional business before transitioning to health logistics—as a reseller of test kits initially obtained by Australian company Promedical Equipment Pty. Ltd. from “well-respected Chinese firm” Wondfo. It doesn’t name Promedical as a defendant.
SCWorx’s stock skyrocketed 434% on news ...
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