RADNOR, Pa.–(BUSINESS WIRE)–The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) advises investors that a class action securities lawsuit has been filed against Fulgent Genetics, Inc. (“Fulgent”) ( NASDAQ: FLGT). The suit accuses Fulgent of violations of federal securities laws, including omissions and fraudulent misrepresentations regarding the company’s business, operations and prospects. Due to Fulgent’s materially misleading statements and omissions to the public, Fulgent’s investors suffered significant losses.
CLICK HERE TO SUBMIT YOUR FULGENT LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE INTO YOUR BROWSER: https://www.ktmc.com/new-cases/fulgent-genetics-inc?utm_source=PR&utm_medium=link&utm_campaign=fulgent&mktm=r
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PRINCIPAL APPLICANT DEADLINE: NOVEMBER 21, 2022
COURSE PERIOD: FROM MARCH 22, 2019 TO AUGUST 4, 2022
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
Jonathan Naji, Esq. at (484) 270-1453 or by email at info@ktmc.com
Kessler Topaz is one of the world’s foremost advocates for protecting the public from corporate fraud and other wrongdoing. Our securities fraud litigants are consistently individually recognized as leaders in the field and our firm is both feared and respected within the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the categories of shareholders we represent.
FULGENT’S ALLEGED MISCONDUCT
Fulgent, together with its subsidiaries, provides COVID-19, molecular diagnostics and genetic testing services to physicians and patients in the United States and around the world. Accordingly, Fulgent must comply with federal anti-kickback law, which prohibits the knowing and voluntary payment of “compensation” to induce or reward patient referrals or the generation of business involving any payable item or service. by federal health care programs. Fulgent must also comply with the Stark Act which prohibits a physician from making referrals for certain designated health services, including laboratory services, which are covered by the Medicare program, to an entity with which the physician or a member of the immediate family has a direct or indirect link. financial relationship.
On August 4, 2022, Fulgent released its second quarter 2022 financial results, revealing, among other things, that the SEC was investigating some of the company’s SEC filings from 2018 to the first quarter of 2020. Disclosure followed. the company’s receipt of a Civil Investigation Request issued by the U.S. Department of Justice “related to its investigation into allegations of medically unnecessary lab tests, improper billing for lab tests, and compensation received or provided in violation of anti-kickback law and Stark Law.”
Following this news, Fulgent’s stock price fell $11.02 per share, or 17.29%, over the next two trading sessions, to close at $52.72 per share on August 8. 2022.
WHAT CAN I DO?
They shine investors can no later than November 21, 2022, seek to be named as the lead class representative plaintiff through Kessler Topaz Meltzer & Check, LLP or another attorney, or may choose to do nothing and remain an absentee class member. Kessler Topaz Meltzer & Check, LLP encourages Fulgent investors who have suffered significant losses to contact the company directly for more information.
CLICK HERE TO REGISTER FOR THE CASE
WHO CAN BE A PRINCIPAL APPLICANT?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead applicant is usually the investor or small group of investors who have the greatest financial interest and who are also adequate and typical of the category of investors proposed. The lead plaintiff chooses an attorney to represent the lead plaintiff and the class and those attorneys, if approved by the court, are the lead or class attorneys. Your ability to participate in any collection is not affected by whether or not to serve as lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP is filing class actions in state and federal courts nationwide and around the world. The company has developed a worldwide reputation for excellence and has recovered billions of dollars for victims of fraud and other malpractice. All of our work is guided by a common goal: to protect investors, consumers, employees and others from fraud, abuse, corporate and fiduciary misconduct and negligence. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
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