SAN DIEGO, Sept. 12, 2022 (GLOBE NEWSWIRE) — That class: Law firm for shareholder rights Robbins LLP reminds investors that a shareholder on behalf of all persons and entities holding securities of Sema4 Holdings Corp. between March 14, 2022 and August 15, 2022 (NASDAQ: SMFR) has filed a class action lawsuit alleging violations of the Securities Exchange Act of 1934. Sema4 is a healthcare company that uses artificial intelligence to enable personalized medicine.

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What is it about in this case: Sema4 Holdings Corp. (SMFR) failed to announce that it would reverse a significant amount of previously reported revenue that it was unable to recover from third-party payers and that it experienced falling sales prices for its reproductive health segment

According to the complaint, on August 15, 2022, the Company announced changes to its R&D leadership team, including the resignation of Eric Schadt from his roles as President and Chief R&D Officer. The company also announced that it will be shedding approximately 13% of its workforce as part of a series of corporate reorganizations and realignments. During the related conference call, Sema4 announced that this quarter, related to negotiations with “one of [Sema4’s] major commercial payers regarding the potential repayment of payments for Sema4 carrier screening services rendered from 2018 through early 2022.” On the news, Sema4 stock fell $0.80, or 33.3%, to close on March 16 August 2022 at $1.60 per share.

Next Steps: If you purchased Sema4 Holdings Corp (SMFR) stock between March 14, 2022 and August 15, 2022, you have until November 7, 2022 to petition the court to appoint your lead plaintiff in the class action. A lead plaintiff is a representative party acting on behalf of other group members in conducting the litigation. You must not…