LOS ANGELES, Oct. 28, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come November 21, 2022 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors, Fulgent Genetics, Inc. (“Fulgent” or the “Company”) (NASDAQ: FLGT) securities between March 22, 2019 and August 4, 2022inclusive (the “Class Period”).

If you have suffered a loss on your Fulgent investments or would like to inquire about potential claims to recover your loss under federal securities laws, you may submit your contact information at www.glancylaw.com/cases/fulgent-genetics-inc/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at [email protected] to learn more about your rights.

On August 4, 2022, Fulgent reported its second quarter 2022 financial results and announced that the SEC was conducting an investigation into certain 2018 Exchange Act reports through the first quarter of 2020. This came after the company received a civil investigation request from The U.S. Department of Justice “Referred to its investigation into allegations of medically unnecessary laboratory testing, improper billing for laboratory testing, and compensation received or granted in violation of the Anti-Kickback Statute and the Stark- violating the law”.

As a result of this news, Fulgent stock fell $11.02, or 17.3%, in the following two trading sessions to close at $52.72 per share on August 8, 2022, hurting investors.

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, the defendants failed to disclose to the investors that: (1) Fulgent had performed medically unnecessary laboratory tests, adhered to…