Akers Biosciences, Inc. Provides Notice of Proposed Settlement of Derivative Litigation Thorofare, New Jersey

Biosciences, Inc. Provides Notice of Proposed Settlement of Derivative Litigation

New Jersey, January 17, 2020/ - Akers Biosciences, Inc. (the "Company") (NASDAQ: AKER), a developer of rapid

health information technologies, today announced that it reached a settlement agreement to settle two shareholder derivative actions:

Watts v. Gormally, et al., No. 2:18-15992 (D.N.J.) and Chan v. Gormally, et al., No. 2:19-cv-4989 (D.N.J.). As previously

reported, on October 2, 2019, the plaintiffs filed a motion for preliminary approval of the settlement. On January 8, 2020, the

court entered an order that, among other things, granted preliminary approval of the settlement, approved the form and content

of the parties' proposed notice of the settlement, directed the Company to issue a press release containing the information

in that notice by today, and scheduled a hearing on May 28, 2020 to consider final approval of the settlement. Accordingly, below

are the contents of the court-approved notice of the proposed settlement.

Akers Biosciences Inc.

Biosciences, Inc. develops, manufactures, and supplies rapid, point of care screening and testing products designed to bring health

related information directly to the patient or clinician in a timely and cost-efficient manner.

in this press release relating to plans, strategies, trends, specific activities or investments, and other statements that are

not descriptions of historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation

Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,

as amended. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially

from those currently anticipated due to a number of factors, which include the need for additional financing, and any risks detailed

from time to time in Akers' reports filed with the Securities and Exchange Commission, Annual Reports on Form 10-K, Quarterly

Reports on Form 10-Q, and Current Reports on Form 8-K. Forward-looking statements may be identified by terms such as "may,"

"will," "expects," "plans," "intends," "estimates," "potential,"

or "continue," or similar terms or the negative of these terms. Although the Company believes the expectations reflected

in the forward-looking statements are reasonable, they cannot guarantee that future results, levels of activity, performance or

achievements will be obtained. The Company does not have any obligation to update these forward-looking statements other than

information on the company and its products can be found at www.akersbio.com.