SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Fulgent Genetics, Inc. - FLGT

NEW YORK, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Fulgent Genetics, Inc. (“”Fulgent” or the “Company”) (NASDAQ: FLGT).   Such investors are advised to contact Robert S. Willoughby at  [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Fulgent and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On August 4, 2022, Fulgent released its second quarter 2022 financial results, disclosing, among other items, that the U.S. Securities and Exchange Commission is conducting an investigation into certain reports for 2018 through the first quarter of 2020.  The disclosure followed the Company’s 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’s stock price fell $11.02 per share, or 17.29%, over the following two trading sessions, to close at $52.72 per share on August 8, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980