RADNOR, Pennsylvania, Nov. 20, 2022 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Central District of California against Fulgent Genetics, Inc. (“Fulgent”) (NASDAQ: FLGT). The action accuses Fulgent of violations of federal securities laws, including omissions and fraudulent misrepresentations regarding 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 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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MAIN Plaintiff DEADLINE: NOVEMBER 21, 2022
LESSON PERIOD: MARCH 22, 2019 TILL AUGUST 4, 2022
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
Jonathan Naji, Esq. at (484) 270-1453 or via email at firstname.lastname@example.org
Kessler Topaz is one of the world’s leading advocates in protecting the public from corporate fraud and other misconduct. Our securities fraud trial attorneys are regularly recognized as individual leaders in the field, and our firm is both feared and respected by the defense and insurance departments. We are proud to have recovered billions of dollars for our customers and the classes of shareholders we represent.
ALLEGED MISCONDUCT OF FULGENT
Fulgent, along with its subsidiaries, provides COVID-19, molecular diagnostics 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 knowingly and intentionally paying “fee” to incentivize or reward patient referrals or to conduct business related to an item or service that must be paid for by the federal healthcare programs. Fulgent must also comply with the Stark Act, which prohibits a physician from making referrals for certain designated health services, including laboratory services, covered by the Medicare program, to any entity with which the physician or an immediate family member has a direct or indirect relationship. financial relationship.
On August 4, 2022, Fulgent announced its financial results for the second quarter of 2022, which revealed, 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 inquiry from the U.S. Department of Justice “in connection with its investigation into allegations of medically unnecessary lab tests, improper billing for lab tests, and fees received or provided in violation of the Anti-Kickback Statute and the Stark Law.”
Following this news, Fulgent’s stock price dropped $11.02 per share, or 17.29%, over the next two trading sessions, closing on August 8, 2022 at $52.72 per share.
WHAT CAN I DO?
Fulgent investors can, no later than November 21, 2022, trying to be appointed as the representative of the lead plaintiff of the class via Kessler Topaz Meltzer & Check, LLP or another counselor, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Fulgent investors who have experienced significant losses to contact the company directly for more information.
CLICK HERE SIGN UP FOR THE CASE
WHO CAN BE LEAD PLAINTIFF?
A lead plaintiff is a representative who acts on behalf of all class members in conducting the lawsuit. The lead plaintiff is usually the investor or small group of investors that has the largest financial interest and is also adequate and typical of the proposed investor class. The lead plaintiff elects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to participate in a recovery is not affected by the decision whether or not to act as lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts across the country and around the world. The company has built a global reputation for excellence and has recovered billions of dollars from victims of fraud and other corporate misconduct. All of our work is driven by a common purpose: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by companies and fiduciaries. 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.
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
King of Prussia Road 280
Radnor, P. A. 19087
A video accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/1324635b-761b-42af-a6b9-2c5d3d38a862