NEW YORK, Oct. 14, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Sema4 Holdings Corp. (“Sema4” or the “Company”) SMFR SMFRW))). Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.
The investigation concerns whether Sema4 and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
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On July 22, 2021, CM Life Sciences, Inc., a special purpose acquisition entity, completed its business combination with Mount Sinai Genomics, Inc. and the combined public entity was renamed Sema4. Less than a year later, on June 14, 2022, Sema4 announced that its chief financial officer had left.
Then, on August 15, 2022, after the market closed, Sema4 announced changes to its R&D leadership team, including the resignation of its founder from the organization and his role as President and Chief R&D Officer. The company also announced that it will be shedding approximately 13% of its workforce as part of a series of corporate reorganizations and realignments. Additionally, Sema4 lowered its fiscal 2022 revenue guidance to $245-$255 million from the previous guidance of $305-$315 million.
As a result of this news, Sema4’s stock fell $0.80, or 33.3%, to close at $1.60 per share on August 16, 2022, hurting investors.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches,…
