The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Utah on behalf of investors who purchased Myriad Genetics, Inc. (NASDAQ: MYGN) securities between September 2, 2016 and August 13, 2019.
According to the Myriad Genetics lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Myriad's product, GeneSight, lacked evidence or information sufficient to support the tests in their current form, including their purported benefits; (ii) the U.S. Food and Drug Administration (“FDA”) had requested changes to GeneSight and questioned the validity of the test’s purported benefits; (iii) Myriad had been in ongoing discussions with the FDA regarding the FDA’s requested changes to GeneSight; (iv) Myriad’s acquisition of Counsyl—and thereby, Foresight—caused the Company to incur the risk of suffering from lower reimbursement for its expanded carrier screening tests, which had the potential to, and actually did, materialize into a material negative impact on the Company’s revenue; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Myriad Genetics you have until November 26, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
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