The Fulgent Genetics class action lawsuit seeks to represent purchasers or acquirers of Fulgent Genetics, Inc. (NASDAQ: FLGT) securities between March 22, 2019 and August 4, 2022, inclusive (the “Class Period”). The Fulgent Genetics class action lawsuit – captioned Pugley v. Fulgent Genetics, Inc., No. 22-cv-06764 (C.D. Cal.) – charges Fulgent Genetics and certain of its top executives with violations of the Securities Exchange Act of 1934.
If you suffered losses in Fulgent Genetics stock and wish to serve as lead plaintiff of the Fulgent Genetics class action lawsuit, please provide your information below. You can also contact Fulgent Genetics Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected]. Lead plaintiff motions for the Fulgent Genetics class action lawsuit must be filed with the court no later than November 21, 2022. If you suffered losses in Fulgent Genetics stock and have questions, please contact Fulgent Genetics Stock Loss Lawyer Timothy L. Miles today.
Allegations in the Fulgent Genetics Class Action Lawsuit
Fulgent Genetics provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients. Fulgent Genetics 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, as well as the federal 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.
The Fulgent Genetics class action lawsuit alleges that defendants failed to disclose that: (i) Fulgent Genetics 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 Genetics was likely to become subject to enhanced legal and regulatory scrutiny; (iii) Fulgent Genetics’ revenues, to the extent they were derived from the foregoing unlawful conduct, were unsustainable; and (iv) the foregoing, once revealed, was likely to subject Fulgent Genetics to significant financial and/or reputational harm.
On August 4, 2022, Fulgent Genetics released its second quarter 2022 financial results, disclosing, among other items, that the U.S. Securities and Exchange Commission (“SEC”) was conducting an investigation into certain of Fulgent Genetics’ reports filed with the SEC from 2018 through the first quarter of 2020. The disclosure followed Fulgent Genetics’ 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." On this news, Fulgent Genetics’ stock price fell by more than 17%, damaging investors who suffered losses in Fulgent Genetics stock.
The Lead Plaintiff Process in the Fulgent Genetics Class Action Lawsuit
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Fulgent Genetics stock to seek appointment as lead plaintiff in the Fulgent Genetics class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Fulgent Genetics stock, and have further questions, contact Fulgent Genetics Stock Loss Lawyer Timothy L. Miles today who will fight to recover your damages.
How Can a Fulgent Genetics Stock Loss Lawyer Help Me?
A Fulgent Genetics Stock Loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation. A Fulgent Genetics Stock Loss Lawyer focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional. While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discovery every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct, such as a Fulgent Genetics Stock Loss Lawyer who will work to recover the losses you sustained through a Fulgent Genetics Class Action lawsuit.
Contact a Fulgent Genetics Stock Loss Lawyer if You Suffered Losses in Fulgent Genetics Stock
If you suffered losses in Fulgent Genetics contact Palantir stock loss lawyer Timothy L. Miles today about a Fulgent Genetics class action lawsuit, and see what a Fulgent Genetics Loss Lawyer can do for you. We take all cases on a contingency basis which means we do not get paid unless we win your case.
Timothy L. Miles, Esq.
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, and more.
Timothy L. Miles
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