NEW ORLEANS, Nov. 01, 2022 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they to have November 21, 2022 Lead plaintiff motions in a securities class action lawsuit against Fulgent Genetics, Inc. (NasdaqGM: FLGT) if they purchased the Company’s securities between March 22, 2019 and August 4, 2022 inclusive (the “Class Period”). This lawsuit is pending in the United States District Court for the Central District of California.

What you can do

If you have purchased Fulgent stock and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you can contact KSF Managing Partner Lewis Kahn toll-free, without obligation and at no cost to you, at 1-877-515-1850 or email ([email protected]) or visit us https://www.ksfcounsel.com/cases/nasdaqgm-flgt/ to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must petition the court November 21, 2022.

About the lawsuit

Fulgent and certain of its officers are alleged to have failed to disclose material information during the Class Period in violation of federal securities laws.

On August 4, 2022, the Company announced receipt of a civil investigation request issued by the U.S. Department of Justice “under the False Claims Act in connection with its investigation into allegations of medically unnecessary laboratory testing, improper billing of laboratory testing, and compensation in violation of the Anti-Kickback Code.” Statute and the Stark Act” and that the Securities and Exchange Commission conducted an investigation of certain of the Company’s reports filed with the SEC from 2018 through the first quarter of 2020.

As a result of this news, Fulgent’s shares fell $11.02 per share, or 17.29%, in the following two trading sessions, closing on…