December 09, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Great Basin Scientific Inc (NASDAQ:GBSN) shares over potential securities laws violations by Great Basin Scientific 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 Great Basin Scientific Inc (NASDAQ:GBSN) concerning whether a series of statements by Great Basin Scientific regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Great Basin Scientific Inc reported that its annual Total Revenue rose from $0.76 million in 2013 to $1.61 million in 2014 while its respective Net Loss increased from $9.56 million to $21.73 million.

On February 25, 2015 Great Basin Scientific Inc sold 2,724,000 units (Units) in a public offering, which (upon conversion into preferred stock and warrants) resulted in an obligation to issue hundreds of millions of new shares.

Shares of Great Basin Scientific Inc (NASDAQ:GBSN) declined from $5.93 per share in October 2014 to as low as $0.052 in September 2015.