NEW ORLEANS, Sept. 27, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, is reminding investors they have until November 7, 2022 Lead Plaintiff’s Motions in a Securities Class Action Against Sema4 Holdings Corp. SMFR SMFRW))) if they purchased the securities of the Company between March 14, 2022 and August 15, 2022 inclusive (the “Collection Period”). This lawsuit is pending in the United States District Court for the District of Connecticut.
get help
Sema4 investors should visit us at https://claimsfiler.com/cases/nasdaq-smfr/ or call toll free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.
About the lawsuit
Sema4 and certain of its officers are accused of failing to disclose material information during the Class Period in violation of federal securities laws.
On August 15, 2022, following the IPO, the company announced that its president and chief R&D officer would be stepping down from those roles, that it would be cutting about 13% of its workforce as part of a series of restructuring and corporate realignments, and so on “$30.1 million of revenue reversed in the quarter related to prior periods,” related to negotiations with “one of [Sema4’s] major commercial payers regarding the potential repayment of payments for Sema4 carrier screening services rendered from 2018 through early 2022.”
As a result of this news, Sema4 shares fell $0.80, or 33.3%, on unusually high trading volume to close at $1.60 per share on August 16, 2022.
The case is Helo vs. Sema4 Holdings Corp., et al., Case number 22-cv-01131.
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