NEW YORK, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Fulgent Genetics, Inc. (NASDAQ: FLGT) on behalf of long-term stockholders following a class action complaint that was filed against Fulgent on September 20, 2022 with a Class Period from March 22, 2019 to August 4, 2022. Our investigation concerns whether the board of directors of Fulgent have breached their fiduciary duties to the company.
On August 4, 2022, Fulgent released its second quarter 2022 financial results, disclosing that the SEC was conducting an investigation into certain of Fulgent’s reports filed with the SEC from 2018 through the first quarter 2020. The disclosure followed Fulgent’s receipt of a civil investigative demand issued by the U.S. Department of Justice “related to its investigation of allegations of medically unnecessary laboratory testing, improper billing for laboratory testing, and remuneration received or provided in violation of the Anti-Kickback Statute and the Stark Law.”
On this news, Fulgent’s stock price fell $11.02, or 17.29%, over the following two trading sessions, to close at $52.72 per share on August 8, 2022.
If you are a long-term stockholder of Fulgent, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.