Bragar Eagel & Squire, P.C. Is Investigating LifeStance Health, CareDx, Seer, and Laboratory Corp. and Encourages Investors to Contact the Firm
Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices.
NEW YORK, Jan. 16, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against LifeStance Health Group, Inc. (NASDAQ: LFST), CareDx, Inc. (NASDAQ: CDNA), Seer, Inc. (NASDAQ: SEER), and Laboratory Corporation (NYSE: LH). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
LifeStance Health Group, Inc. (NASDAQ: LFST)
LifeStance is one of the nation’s largest providers of virtual and in-person outpatient mental health care for children, adolescents and adults experiencing a variety of mental health conditions.
On August 11, 2021, LifeStance announced financial results for the second quarter ended June 30, 2021. The company reported a $70 million net loss in the second quarter and issued third quarter guidance that missed estimates as healthcare companies struggle to retain physicians suffering burnout by the COVID-19 pandemic.
On this news, LifeStance’s stock price fell $10.16 per share, to close at $11.71 per share on August 12, 2021.
For more information on the LifeStance Health investigation go to: https://bespc.com/cases/LFST
CareDx, Inc. (NASDAQ: CDNA)
On January 25, 2021, the Company sold 1,923,077 shares of its common stock through an underwritten public offering at a public offering price of $91.00 per share.
On October 28, 2021, after the market closed, CareDx released Q3 2021 financial results in which the Company disclosed that the U.S. Department of Justice (“DOJ”) had recently served a civil investigatory demand requesting documents in connection with a False Claims Act investigation. The DOJ is investigating business practices related to CareDx’s kidney testing and phlebotomy services. The Company also disclosed that it received a subpoena from the U.S. Securities and Exchange Commission (“SEC”) for similar issues as well as certain accounting and public reporting practices, and the Company received an information request from an unnamed state agency.
On this news, the Company’s share price declined by $19.34 per share, or approximately 27.5%, from $70.34 per share to close at $51.00 per share on October 29, 2021.
For more information on the CareDx investigation go to: https://bespc.com/cases/CDNA
Seer, Inc. (NASDAQ: SEER)
On November 4, 2021, The Bear Cave, a newsletter authored by Edwin Dorsey, issued a short report alleging that Seer appears to have misled investors about its recent Chinese distribution partnership, customer base, and management's past track record.
On this news, shares of Seer stock fell 7% in intraday trading.
For more information on the Seer investigation go to: https://bespc.com/cases/SEER
Laboratory Corporation (NYSE: LH)
On January 1, 2022, an article from the New York Times called into question the accuracy of certain noninvasive prenatal tests, including that developed by Labcorp. The article alleges that positive results on tests are incorrect about 85% of the time. Patients who receive a positive result are supposed to pursue follow-up testing, which “can cost thousands of dollars, come with a small risk of miscarriage and can’t be performed until later in pregnancy.” The investigation highlights the statistical challenge of testing from things that are extremely rare. But, this isn’t adequately explained to patients who were sold the tests. Companies that develop these tests use language like “highly accurate” and “total confidence,” do not publish data on their tests’ overall performance, or only stress data from tests that are more accurate.
On this news, Labcorp’s stock fell over $16.00, or 5%, to close at $298.18 per share on January 3, 2022, injuring investors.
For more information on the Laboratory Corp. investigation go to: https://bespc.com/cases/LH
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
[email protected]
www.bespc.com
