NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Fulgent Genetics, Inc. (“Fulgent” or the “Company”) (NASDAQ: FLGT). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

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

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On August 4, 2022, Fulgent reported its second quarter 2022 financial results and announced, among other things, that the US Securities and Exchange Commission is conducting an investigation into certain 2018 reports through the first quarter of 2020. The disclosure follows the company’s receipt of a civil investigation request from the U.S. Department of Justice “in connection with its investigation into allegations of medically unnecessary laboratory testing, improper billing for laboratory testing, and compensation received or provided in violation of the Anti-Kickback Statute and Stark Act became”.

As a result of this news, Fulgent’s stock price fell $11.02 per share, or 17.29%, in the following two trading sessions to close on August 8, 2022 at $52.72 per share.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:
Robert S….