San Diego, California – (Newsfile Corp. – September 21, 2022) – The law firm of Robbins Geller Rudman & Dowd LLP announces that buyers or acquirers of Fulgent Genetics, Inc. (NASDAQ: FLGT) securities between March 22, 2019 and August 4, 2022 inclusive (the “Collection Period”) have until November 21, 2022 to to apply for appointment as lead plaintiff in the Fulfilling genetics class action. Titled Pugley v Fulgent Genetics, Inc.No. 22-cv-06764 (CD Cal.), the Fulfilling genetics Class action lawsuit accuses Fulgent Genetics and some of its top executives of violating the Securities Exchange Act of 1934.
If you have suffered significant losses and are the main plaintiff in the Fulfilling genetics Class action, please provide your information here:
https://www.rgrdlaw.com/cases-fulgent-genetics-inc-class-action-lawsuit-flgt.html
You can also contact a lawyer JC Sanchezof Robbins Geller by phone at 800/449-4900 or email [email protected].
CASE CLAIMS: Fulgent Genetics provides COVID-19, molecular diagnostics and genetic testing services to physicians and patients. Fulgent Genetics must comply with the federal anti-kickback statute, which prohibits knowingly and intentionally paying “compensations” to induce or reward patient referrals or to transact business with items or services licensed by federal healthcare programs and the state Stark statute, which prohibits a physician from making referrals for certain designated health services, including laboratory services, covered by the Medicare program to an entity with which the physician or an immediate family member has a direct or has an indirect financial relationship.
That Fulfilling genetics The class action alleges that the defendants failed to disclose: (i) Fulgent Genetics conducted medically unnecessary laboratory testing, engaged in improper billing practices related to laboratory testing, and paid or received compensation in violation of the Anti-Kickback Statute and Stark Law; (ii) accordingly, Fulgent Genetics would likely be subject to increased legal and regulatory scrutiny; (iii) Fulgent Genetics’ earnings, to the extent derived from the foregoing unlawful conduct, were unsustainable; and (iv) the foregoing, once disclosed, would be likely to subject Fulgent Genetics to significant financial and/or reputational damage.
On August 4, 2022, Fulgent Genetics released its second quarter 2022 financial results and announced, among other things, that the U.S. Securities and Exchange Commission (“SEC”) is conducting an investigation into certain of Fulgent Genetics’ reports filed with the SEC in 2018 through the first quarter of 2020. The disclosure followed Fulgent Genetics’ receipt of a civil investigation request from the U.S. Department of Justice related to its “investigation of allegations of medically unnecessary laboratory testing, improper billing of laboratory testing and compensation received, or violation of the Anti-Kickback Statute and the Stark.” Act.” Following the news, Fulgent Genetics’ share price fell more than 17%, hurting investors.
THE LEADING PLAINTANT TRIAL: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Fulgent Genetics securities during the Class Period to seek appointment as lead plaintiff. A lead plaintiff is generally the claimant who has the greatest financial interest in the remedy sought by the alleged class that is also typical and appropriate for the alleged class. A lead plaintiff acts on behalf of all other group members in the direction of the Fulfilling genetics class action. The lead plaintiff may select a law firm of his choice to conduct the litigation Fulfilling genetics class action. An investor’s ability to participate in a potential future recovery is not contingent on being the lead plaintiff in the Fulfilling genetics class action.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action law firms, representing plaintiffs in securities fraud cases. The company ranks first in ISS Securities Class Action Services’ 2021 Top 50 report for recovering nearly $2 billion for investors last year alone — more than triple the amount recovered by any other plaintiffs’ company was reclaimed. With 200 attorneys in 9 offices, Robbins Geller is one of the largest plaintiffs law firms in the world, and the firm’s attorneys have secured many of the largest securities class action recoveries in history, including the largest securities class action recovery of all time – $7.2 billion. in Regarding Enron Corp. sec. lig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Contact:
Robbins Geller Rudman & Dowd LLP
655 W. Broadway, Suite 1900, San Diego, CA 92101
JC Sanchez, 800-449-4900
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137967
