NEWTOWN, Pa., Sept. 23, 2022 (GLOBE NEWSWIRE) — The law firm of Edelson Lechtzin LLP is investigating securities fraud lawsuits on behalf of buyers of Fulgent Genetics, Inc. (“Fulgent” or the “Company”) (NASDAQ : FLGT) Common Stock between March 22, 2019 and August 4, 2022 inclusive (the “Collection Period”).

Investors who purchased Fulgent common stock during the Class Period may apply in the United States District Court for the Central District of California to appoint them lead plaintiffs November 21, 2022. A lead plaintiff is a representative party acting on behalf of other group members in conducting the litigation. Investors wishing to discuss the lead plaintiff selection process should contact Edelson Lechtzin LLP toll free at 1-844-696-7492 or email at [email protected]. A copy of the class action lawsuit is available for inspection HERE.

Background on Fulgent Genetics, Inc.’s Securities Class Action

Fulgent is a full-service genomic testing company built on a foundational technology platform. Fulgent has a diverse testing menu and is focused on transforming patient care in the areas of oncology, anatomical pathology, infectious diseases and reproductive health. Together with its subsidiaries, Fulgent provides COVID-19, molecular diagnostics and genetic testing services to physicians and patients in the United States and internationally.

The lawsuit alleges that the defendants made false and/or misleading statements regarding Fulgent’s business, operational and compliance policies throughout the class period. Specifically, Fulgent is accused of performing medically unnecessary lab tests, engaging in improper billing practices related to lab tests, and making or receiving payments in violation of the Anti-Kickback Act (which prohibits the knowing and intentional payment of compensation). Induce or reward patient referrals or the generation of business for items or services payable by federal government agencies.