NEW ORLEANS, Oct. 25, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, is reminding investors they have until November 21, 2022 Lead Plaintiff’s motions in a securities class action lawsuit against Fulgent Genetics, Inc. FLGTif you purchased the securities of the Company between March 22, 2019 and August 4, 2022 inclusive (the “Collection Period”). This lawsuit is pending in the United States District Court for the Central District of California.
get help
Fulgent investors should visit us at https://claimsfiler.com/cases/nasdaq-flgt/ or call toll free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.
About the lawsuit
Fulgent and certain of its officers are alleged to have failed to disclose material information during the Class Period in violation of federal securities laws.
On August 4, 2022, the Company announced receipt of a civil investigation request issued by the U.S. Department of Justice “under the False Claims Act in connection with its investigation into allegations of medically unnecessary laboratory testing, improper billing of laboratory testing and compensation in violation of the Anti-Kickback Statute and the Stark Act” and that the Securities and Exchange Commission conducted an investigation of certain of the Company’s reports filed with the SEC from 2018 through the first quarter of 2020.
As a result of this news, Fulgent shares fell $11.02 per share, or 17.29%, in the following two trading sessions to close at $52.72 per share on August 8, 2022.
The case is Pugley v Fulgent Genetics, Inc., et al.No. 22-cv-06764.
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