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NEW YORK, Oct. 18, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, is reminding investors of the deadline for filing a motion by lead plaintiff in a securities class action lawsuit filed on behalf of investors holding the securities of purchased or acquired Fulgent Genetics, Inc. (“Fulgent” or the “Company”) FLGT in between March 22, 2019 and August 4, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Central District of California alleging violations of the Securities Exchange Act of 1934.
Fulgent, along with its subsidiaries, provides COVID-19, molecular diagnostics and genetic testing services to physicians and patients in the United States and internationally. Fulgent must comply with the federal anti-kickback statute, which prohibits knowingly and intentionally paying “compensations” to solicit or reward patient referrals, or to transact business in items or services provided by federal healthcare programs as well as Stark Law prohibiting a physician from referring certain designated health services, including laboratory services, covered by the Medicare program to an entity with which the physician or immediate family member has a direct or indirect financial relationship .
Plaintiff alleges that throughout the Class Period, Defendants made materially false and misleading statements. Specifically, Plaintiff alleges that the Defendants failed to disclose: (i) Fulgent performed medically unnecessary laboratory testing, engaged in improper billing practices related to laboratory testing, and paid or received compensation in violation of the anti-kickback rule.
Read full story here https://www.benzinga.com/pressreleases/22/10/g29299606/fulgent-genetics-inc-nasdaq-flgt-shareholder-class-action-alert-bernstein-liebhard-llp-reminds-inv