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Fulgent Genetics, Inc. Shareholder Notice: Robbins LLP Reminds Shareholders of Lead Plaintiff ...

By Robbins LLP - Oct 04, 2022, 07:24 PM ET
Last Updated - Jul 15, 2024, 07:38 AM EDT
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On August 4, 2022, Fulgent released its second quarter 2022 financial results, disclosing that the SEC was conducting an investigation into certain of the Company's reports filed with the SEC from 2018 through the first quarter 2020

The Class: Shareholder rights law firm Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Fulgent Genetics, Inc. (FLGT" href="/company/FLGT" onmouseover="handlePagePreview('company','FLGT')" style="color:#4007a2 !important; text-decoration:underline !important; font-weight:bold;">NASDAQ: FLGTFLGT-pp">) securities between March 22, 2019 and August 4, 2022, for violations of the Securities Exchange Act of 1934. Fulgent provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patents in the U.S. and internationally

SAN DIEGO, Oct. 04, 2022 (GLOBE NEWSWIRE) -- The Class: Shareholder rights law firm Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Fulgent Genetics, Inc. (FLGT" href="/company/FLGT" onmouseover="handlePagePreview('company','FLGT')" style="color:#4007a2 !important; text-decoration:underline !important; font-weight:bold;">NASDAQ: FLGTFLGT-pp">) securities between March 22, 2019 and August 4, 2022, for violations of the Securities Exchange Act of 1934. Fulgent provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patents in the U.S. and internationally.

If you would like more information about Fulgent Genetics Inc.'s misconduct, click here.

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What is this Case About: The U.S. Department of Justice is Investigating Fulgent Genetics, Inc. (FLGT) for Violations of the Anti-Kickback Statute and the Stark Law

According to the complaint, during the class period, defendants failed to disclose that: (i) Fulgent had been conducting medically unnecessary laboratory testing, engaging in improper billing practices in relation to laboratory testing, and providing or receiving remuneration in violation of the Anti-Kickback Statute and Stark Law; (ii) accordingly, Fulgent was likely to become subject to enhanced legal and regulatory scrutiny; and (iii) Fulgent’s revenues, to the extent they were derived from the foregoing unlawful conduct, were unsustainable.

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