Bragar Eagle & Squire, PC is reminding investors of this class action lawsuit

Bragar Eagle & Squire, PC is reminding investors of this class action lawsuit


NEW YORK, Oct. 11, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that class action lawsuits can be filed on behalf of Sema4 Holdings Corp. shareholders. SMFR SMFRW))), Medtronic PLC MDTPalantir Technologies, Inc. PLTRand Fulgent Genetics, Inc. FLGT. Shareholders have until the deadlines below to petition the court to be lead plaintiff. For more information on each case, see the link provided.

Sema4 Holdings Corp. SMFR SMFRW)))

Class Period: March 14, 2022 – August 15, 2022

Lead Plaintiff Deadline: November 7, 2022

On August 15, 2022, after the market closed, Sema4 announced changes to its R&D leadership team, including the resignation of defendant 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 restructuring and realignments. During the related conference call, Sema4 announced that in connection with 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.”

As a result of this news, Sema4’s stock fell $0.80, or 33.3%, on unusually high trading volume to close at $1.60 per share on August 16, 2022.

The Complaint filed in this Class Action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, Defendants failed to disclose to investors: (1) that there was a significant risk that Sema4 would reverse a substantial amount of previously recognized revenue that it was unable to recover from third-party payers; (2) that the company was in decline…

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