RADNOR, Pa., Oct. 01, 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. Fulgent investors have suffered significant losses as a result of Fulgent’s materially misleading statements and omissions to the public.
CLICK HERE SUBMIT YOUR FOLLOWING LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE TO 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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DEADLINE OF THE HEAD WANDER: NOVEMBER 21, 2022
CLASS PERIOD: MARCH 22, 2019 UNTIL AUGUST 4, 2022
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
Jonathan Naji, Esq. at (484) 270-1453 or by email at email@example.com
Kessler Topaz is one of the world’s foremost advocates in protecting the public from corporate fraud and other misconduct. Our securities fraud attorneys are regularly individually recognized as leaders in the field, and our firm is both feared and respected by the Defense and Insurance Bars. We are proud to have recovered billions of dollars for our customers and the classes of shareholders we represent.
FULGENT’S REPORTED MISCONDUCT
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 knowing and intentionally paying “fee” to induce or reward patient referrals or generate business related to any item or service to be paid by the federal government. healthcare programs. Fulgent must also comply with the Stark Act that prohibits a physician from referring to an entity with which the physician or an immediate family member has a direct or indirect financial relationship for certain designated health services, including laboratory services, covered by the Medicare program.
On August 4, 2022, Fulgent released its financial results for the second quarter of 2022, revealing, among other things, that the SEC was investigating certain company reports filed with the SEC from 2018 through the first quarter of 2020. the receipt by the company of a civil investigation request from the United States Department of Justice “in relation to its investigation of allegations of medically unnecessary laboratory testing, incorrect billing for laboratory testing, and compensation received or provided in violation of the anti-kickback statute and the Stark Act .”
Following this news, Fulgent’s stock price fell $11.02 per share, or 17.29%, over the next two trading sessions, closing at $52.72 per share on August 8, 2022.
WHAT CAN I DO?
Fulgent investors can, no later than November 21, 2022, seek to be appointed as lead plaintiff’s class representative by: Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP Fulgent encourages investors who have suffered significant losses to contact the company directly for more information.
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WHO CAN BE A HEADCHECK?
A lead plaintiff is a representative party who acts on behalf of all class members in conducting the lawsuit. The lead claimant is usually the investor or small group of investors who has the greatest financial interest and who is also suitable and typical of the proposed class of investors. The lead plaintiff chooses counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class attorneys. Your ability to participate in any chargeback will not be affected by the decision whether or not to act as lead claimant.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP is prosecuting 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 trustees. 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.
280 King of Prussia Road
Radnor, PA 19087
A video accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a34b0f70-8dc3-40f1-ab75-f71a93f485e4