NEW ORLEANS, September 30, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr.remind investors that they have until November 21, 2022 to file lead plaintiff claims in a securities class action lawsuit against Fulgent Genetics, Inc. (NasdaqGM: FLGT), if they purchased the company’s securities between March 22, 2019 and August 4, 2022, inclusive (the “Class Period”). This action is in progress in United States District Court of the Central District of California.
What you can do
If you have purchased securities of Fulgent and would like to discuss your legal rights and how this matter may affect you and your right to recover your economic loss, you may, at no obligation or cost to you, contact the Managing Partner from KSF, Lewis Kahn, toll-free. at 1-877-515-1850 or by email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgm-flgt/ to learn more. If you wish to act as lead plaintiff in this class action, you must submit a motion to the court in November 21, 2022.
About the trial
Fulgent and certain of its officers are accused of failing to disclose material information during the Class Period, in violation of federal securities laws.
On August 4, 2022the company disclosed receipt of a Civil Investigation Request issued by the U.S. Department of Justice “pursuant to the False Claims Act regarding its investigation into allegations of medically unnecessary lab tests, improper billing for lab tests and compensation received or provided in violation of the Anti-Kickback Act and the Stark Act,” and that the Securities and Exchange Commission was investigating some of the company’s SEC filings from 2018 to the first quarter of 2020.
On this news, Fulgent’s shares plummet $11.02 per share, i.e. 17.29%, over the next two trading sessions, to close at $52.72 per share on August 8, 2022.
The deal is Pugley v. Fulgent Genetics, Inc., et al.no. 22-cv-06764.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – in seeking recoveries for investment losses resulting from corporate fraud or malfeasance by listed companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you can visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis KahnManaging Partner
1100 Poydras Street, Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC