RADNOR, Pennsylvania, Sept. 23, 2022 (GLOBE NEWSWIRE) – The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a class action over the securities has been filed in the United States District Court for the district Central California v. Fulgent Genetics, Inc. (“Shining”) (NASDAQ: FLGT). The action accuses Fulgent of violations of federal securities laws, including omissions and misrepresentations relating to the company’s business, operations and prospects. As a result of Fulgent’s materially misleading statements and omissions to the public, Fulgent investors suffered significant losses.
CLICK HERE TO BE PRESENTED YOUR FURGENT LOSSES. YOU CAN ALSO CLICK THE FOLLOWING LINK OR COPY AND PASTE INTO YOUR BROWSER: https://www.ktmc.com/new-cases/fulgent-genetics-inc?utm_source=PR&utm_medium=link&utm_campaign=fulgent&mktm=r
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TERM OF THE PRINCIPAL COMPLAINT: NOVEMBER 21, 2022
LESSON PERIOD: FROM 22 MARCH 2019 TO 4 AUGUST 2022
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
Jonathan Naji, Esq. At (484) 270-1453 or by email at email@example.com
Kessler Topaz is one of the world’s leading advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud attorneys are regularly recognized as industry leaders individually and our firm is both feared and respected between defense and insurance. We are proud to have recovered billions of dollars for our clients and the shareholder classes we represent.
ALLEGED MISTAKE OF FULGENT
Fulgent, along with its subsidiaries, provides genetic testing, molecular diagnostic and COVID-19 services to physicians and patients in the United States and internationally. Accordingly, Fulgent must comply with the Federal Anti-Backlash Statute, which prohibits the conscious and intentional payment of “remuneration” to induce or reward patient referrals or the generation of business involving any items or services payable by federal health programs. Fulgent must also comply with Stark Law which prohibits a physician from referring for certain designated health services, including laboratory services, which are covered by the Medicare program, to an entity with whom the physician or a close relative has a relationship. direct or indirect financial relationship.
On August 4, 2022, Fulgent released its financial results for the second quarter of 2022, revealing, among other things, that the SEC was conducting an investigation into some of the company’s reports filed with the SEC from 2018 through the first quarter of 2020. This was followed by receipt by the company of a civil investigation request issued by the United States Department of Justice “relating to its investigation into allegations of medically unnecessary laboratory tests, improper billing for laboratory tests and compensation received or provided in violation of the Anti-Kickback Statute and the Stark Law. “
Following this news, the Fulgent share price fell $ 11.02 per share, or 17.29%, in the next two trading sessions, to close at $ 52.72 per share on August 8, 2022.
WHAT CAN I DO?
Absolute investors can, no later than 21 November 2022, seek to be appointed as the actor’s primary representative of the class through Kessler Topaz Meltzer & Check, LLP, or other lawyer, or he may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Fulgent investors who have suffered significant losses to contact the company directly for more information.
CLICK HERE TO SUBSCRIBE TO THE CASE
WHO CAN BE A PRINCIPAL Plaintiff?
A principal plaintiff is a representative party acting on behalf of all class members in the direction of the litigation. The main actor is usually the investor or the small group of investors who have the greatest financial interest and who are also suitable and typical of the proposed class of investors. The lead plaintiff selects the legal counsel to represent the lead plaintiff and the class, and these attorneys, if approved by the court, are legal or class counsel. Your ability to participate in any recovery is not affected by the decision whether or not to serve as the main plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP pursues class action in state and federal courts across the country and around the world. The company has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All our work is guided by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence on the part of companies and trustees. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 Via del Re di Prussia
Radnor, PA 19087
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f10dcc15-0b6b-4780-a511-b193021b2638