NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 21, 2022 to file lead plaintiff applications 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 action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased securities of Fulgent and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgm-flgt/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 21, 2022.
About the Lawsuit
Fulgent and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 4, 2022, the Company disclosed the receipt of a Civil Investigative Demand issued by the U.S. Department of Justice “pursuant to the False Claims Act 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,” and that the Securities and Exchange Commission was conducting an investigation into certain of the Company’s reports filed with the SEC from 2018 through the first quarter of 2020.
On this news, shares of Fulgent fell $11.02 per share, or 17.29%, over the following two trading sessions, to close at $52.72 per share on August 8, 2022.
The case is Pugley v. Fulgent Genetics, Inc., et al., No. 22-cv-06764.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850