INVESTOR NOTIFICATION: Kessler Topaz Meltzer & Check, LLP Announces Lead Plaintiff Deadline on November 21, 2022 in Securities Fraud Class Action Lawsuit Filed against Fulgent Genetics, Inc.
The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Fulgent Genetics, Inc. ("Fulgent") (NASDAQ: FLGT). The action charges Fulgent with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company's business, operations, and prospects. As a result of Fulgent's materially misleading statements and omissions to the public, Fulgent investors have suffered significant losses.
CLICK HERE TO SUBMIT YOUR FULGENT LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN 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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LEAD PLAINTIFF DEADLINE: NOVEMBER 21, 2022
CLASS PERIOD: MARCH 22, 2019 THROUGH AUGUST 4, 2022
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
Kessler Topaz is one of the world's foremost advocates in protecting the public gainst corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.
FULGENT'S ALLEGED MISCONDUCT
Fulgent, together with its subsidiaries, provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients in the United States and internationally. As a result, Fulgent must comply with the federal Anti-Kickback Statute, which prohibits the knowing and willful payment of "remuneration" to induce or reward patient referrals or the generation of business involving any item or service payable by the federal health care programs. Fulgent also must comply with the Stark Law which prohibits a physician from making referrals for certain designated health services, including laboratory services, that are covered by the Medicare program, to an entity with which the physician or an immediate family member has a direct or indirect financial relationship.
On August 4, 2022, Fulgent released its second quarter 2022 financial results, disclosing, among other things, that the SEC was conducting an investigation into certain of the company's reports filed with the SEC from 2018 through the first quarter of 2020. The disclosure followed the company's receipt of a civil investigative demand issued by the U.S. Department of Justice "related to its investigation of allegations of medically unnecessary laboratory testing, improper billing for laboratory testing, and remuneration received or provided in violation of the Anti-Kickback Statute and the Stark Law."
Following this news, Fulgent's stock price fell $11.02 per share, or 17.29%, over the following two trading sessions, to close at $52.72 per share on August 8, 2022.
WHAT CAN I DO?
CLICK HERE TO SIGN UP FOR THE CASE
WHO CAN BE A LEAD PLAINTIFF?
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