November 30, 2015 (Shareholders Foundation) - An investigation on behalf of investors of ERBA Diagnostics Inc (NYSEMKT:ERB) shares over potential securities laws violations by ERBA Diagnostics Inc 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 ERBA Diagnostics Inc (NYSEMKT:ERB) concerning whether a series of statements by ERBA Diagnostics Inc (NYSEMKT:ERB regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

ERBA Diagnostics Inc reported that its annual Total Revenue declined from $28.26 million in 2013 to $26.39 million in 2014 and that its Net Income decreased from $0.68 million 2013 to $0.45 million in 2014.

Shares of ERBA Diagnostics Inc (NYSEMKT:ERB) grew from $1.54 per share in May 2014 to as high as $3.98 per share in March 2015.

On November 20, 2015, ERBA Diagnostics Inc announced that the Audit Committee of the Company's Board of Directors concluded that the Company's financial statements for each of the years ended December 31, 2014 and 2013 and for each of the interim periods ended March 31, 2015 and June 30, 2015 should no longer be relied upon. In addition, ERBA Diagnostics Inc stated that the Company intends to restate its financial statements for each of the years ended December 31, 2014 and 2013 and for each of the interim periods ended March 31, 2015 and June 30, 2015 by filing amendments to its Annual Report on Form 10-K for the year ended December 31, 2014, which will also include details regarding adjustments in the portion of the Non-Reliance Period occurring during the year ended December 31, 2013, and its Quarterly Reports for the periods ended March 31, 2015 and June 30, 2015 as soon as practicable.