{"id":688464,"date":"2022-09-23T09:56:54","date_gmt":"2022-09-23T13:56:54","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-edelson-lechtzin-llp-is-investigating-securities-fraud-claims-on-behalf-of-fulgent-genetics-inc-nasdaq-flgt-shareholders\/"},"modified":"2022-09-23T09:56:54","modified_gmt":"2022-09-23T13:56:54","slug":"investor-alert-edelson-lechtzin-llp-is-investigating-securities-fraud-claims-on-behalf-of-fulgent-genetics-inc-nasdaq-flgt-shareholders","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-edelson-lechtzin-llp-is-investigating-securities-fraud-claims-on-behalf-of-fulgent-genetics-inc-nasdaq-flgt-shareholders\/","title":{"rendered":"INVESTOR ALERT: Edelson Lechtzin LLP is Investigating Securities Fraud Claims on Behalf of Fulgent Genetics, Inc. (NASDAQ: FLGT) Shareholders"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEWTOWN, Pa., Sept.  23, 2022  (GLOBE NEWSWIRE) &#8212; The law firm of Edelson Lechtzin LLP is investigating securities fraud claims on behalf of purchasers of Fulgent Genetics, Inc. (\u201cFulgent\u201d or the \u201cCompany\u201d) (NASDAQ: FLGT) common stock between March 22, 2019, and August 4, 2022, inclusive (the \u201cClass Period\u201d).<\/p>\n<p align=\"justify\">Investors who purchased Fulgent common stock during the Class Period may move the U.S. District Court for the Central District of California to appoint them as lead plaintiff, no later than <strong><u>November 21, 2022<\/u><\/strong>. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Investors who wish to discuss the lead plaintiff selection process should contact Edelson Lechtzin LLP, toll free at 1-844-696-7492, or by e-mail at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=QbpzZjwn47GvLhVVmmQ4VRH0NajjqZAV_cOMScd-JUct1bOnDXsKObsFNL_E3goGWtGIcxqty4LBDdX4zPhyHs4EccIYRyv2tDtHn49mtOc=\" rel=\"nofollow noopener\" target=\"_blank\">elechtzin@edelson-law.com<\/a>. A copy of the class action complaint can be viewed <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=QXRjohKrYN6BoHwmxIzF9pu2FSXG-nUZ7VI6BNezFvq-zf4HMsvbkBAMLQ0Cze7DgBDo39uWVT19Wi-DGBFzDFw9xGyeJVDWY3pyp8MJxVw=\" rel=\"nofollow noopener\" target=\"_blank\">HERE<\/a>.<\/p>\n<p>\n        <u>Background on the Fulgent Genetics, Inc. Securities Class Action<\/u>\n      <\/p>\n<p align=\"justify\">Fulgent is a full-service genomic testing company built around a foundational technology platform. Fulgent has a diverse testing menu and is focused on transforming patient care in oncology, anatomic pathology, infectious diseases, and reproductive health. Together with its subsidiaries, Fulgent provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients in the U.S and internationally.<\/p>\n<p align=\"justify\">The Complaint alleges that, throughout the Class Period, defendants made false and\/or misleading statements regarding Fulgent\u2019s business, operations, and compliance policies. Specifically, it is alleged that Fulgent had been conducting medically unnecessary laboratory testing, engaging in improper billing practices in relation to laboratory testing, and providing or receiving payments in violation of the Anti-Kickback Statute (which prohibits the knowing and willful payment of remuneration to induce or reward patient referrals or the generation of business involving any item or service payable by federal health care programs) and the Stark Law (which prohibits a physician from making referrals of certain designated health services, including laboratory services, that are covered by Medicare, to an entity with which the physician or an immediate family member has a direct or indirect financial relationship). Accordingly, Fulgent was likely to become subject to enhanced legal and regulatory scrutiny, which rendered Fulgent\u2019s revenues \u2013 to the extent they were derived from the alleged unlawful conduct \u2013 unsustainable. Fulgent would likely be subject to significant financial and reputational harm when the foregoing alleged violations of law were revealed and, as a result, Fulgent\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n<p align=\"justify\">On August 4, 2022, Fulgent released its second quarter 2022 financial results, disclosing that the SEC was investigating certain of Fulgent\u2019s financial reports filed with the SEC from 2018 through the first quarter of 2020. This disclosure followed the Company\u2019s receipt of a civil investigative demand issued by the U.S Department of Justice concerning \u201cits investigation of allegations of unnecessary laboratory testing, improper billing for laboratory testing, and remuneration received or provided in violation of the Anti-Kickback Statute and the Stark Law.\u201d On this news, the price of Fulgent common stock plummeted $11.02 per share, or 17.29%, over the next two trading sessions, to close at $52.72 per share on August 8, 2022.<\/p>\n<p>For more information about the securities fraud class action and related litigation, please contact:<\/p>\n<p>Marc H. Edelson, Esq.<br \/>Eric Lechtzin, Esq.<br \/>EDELSON LECHTZIN LLP<br \/>411 S. State Street, Suite N-300<br \/>Newtown, PA 18940<br \/>Phone: 844-696-7492 or 215-867-2399 ext. 1<br \/>Email: elechtzin@edelson-law.com <br \/>Web: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=jLBaw0KxoDw2djmthbQi5PVRCHlrM8S3zKBLfjmKOaxVGX1WmX9g5Tm8zDn2vALzjUcCg0jcwUNjO66IP9qPP6PF7srTYVht0Y7-E3JKuJw=\" rel=\"nofollow noopener\" target=\"_blank\">www.edelson-law.com<\/a>\u00a0\u00a0<\/p>\n<p>\n        <u>About Edelson Lechtzin LLP<\/u>\n      <\/p>\n<p align=\"justify\">\n        <strong>Edelson Lechtzin LLP<\/strong> is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.<\/p>\n<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODY1MjQzMSM1MTY5MTcyIzIyNTE3NTE=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/ODk2NWQ2ZWMtNWExYS00Y2M0LWFhMjUtNDU4NTE1ZGQ0Njc1LTEyNjMzMDQ=\/tiny\/Edelson-Lechtzin-LLP.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEWTOWN, Pa., Sept. 23, 2022 (GLOBE NEWSWIRE) &#8212; The law firm of Edelson Lechtzin LLP is investigating securities fraud claims on behalf of purchasers of Fulgent Genetics, Inc. (\u201cFulgent\u201d or the \u201cCompany\u201d) (NASDAQ: FLGT) common stock between March 22, 2019, and August 4, 2022, inclusive (the \u201cClass Period\u201d). Investors who purchased Fulgent common stock during the Class Period may move the U.S. District Court for the Central District of California to appoint them as lead plaintiff, no later than November 21, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Investors who wish to discuss the lead plaintiff selection process should contact Edelson Lechtzin LLP, toll free at 1-844-696-7492, or &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-edelson-lechtzin-llp-is-investigating-securities-fraud-claims-on-behalf-of-fulgent-genetics-inc-nasdaq-flgt-shareholders\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;INVESTOR ALERT: Edelson Lechtzin LLP is Investigating Securities Fraud Claims on Behalf of Fulgent Genetics, Inc. (NASDAQ: FLGT) Shareholders&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-688464","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>INVESTOR ALERT: Edelson Lechtzin LLP is Investigating Securities Fraud Claims on Behalf of Fulgent Genetics, Inc. (NASDAQ: FLGT) Shareholders - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-edelson-lechtzin-llp-is-investigating-securities-fraud-claims-on-behalf-of-fulgent-genetics-inc-nasdaq-flgt-shareholders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVESTOR ALERT: Edelson Lechtzin LLP is Investigating Securities Fraud Claims on Behalf of Fulgent Genetics, Inc. (NASDAQ: FLGT) Shareholders - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEWTOWN, Pa., Sept. 23, 2022 (GLOBE NEWSWIRE) &#8212; The law firm of Edelson Lechtzin LLP is investigating securities fraud claims on behalf of purchasers of Fulgent Genetics, Inc. (\u201cFulgent\u201d or the \u201cCompany\u201d) (NASDAQ: FLGT) common stock between March 22, 2019, and August 4, 2022, inclusive (the \u201cClass Period\u201d). Investors who purchased Fulgent common stock during the Class Period may move the U.S. District Court for the Central District of California to appoint them as lead plaintiff, no later than November 21, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Investors who wish to discuss the lead plaintiff selection process should contact Edelson Lechtzin LLP, toll free at 1-844-696-7492, or &hellip; Continue reading &quot;INVESTOR ALERT: Edelson Lechtzin LLP is Investigating Securities Fraud Claims on Behalf of Fulgent Genetics, Inc. 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Investors who purchased Fulgent common stock during the Class Period may move the U.S. District Court for the Central District of California to appoint them as lead plaintiff, no later than November 21, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Investors who wish to discuss the lead plaintiff selection process should contact Edelson Lechtzin LLP, toll free at 1-844-696-7492, or &hellip; Continue reading \"INVESTOR ALERT: Edelson Lechtzin LLP is Investigating Securities Fraud Claims on Behalf of Fulgent Genetics, Inc. 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