NEW YORK, NY / ACCESSWIRE / August 27, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Myriad Genetics, Inc. (“Myriad” or the “Company”) (MYGN). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Myriad and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 13, 2019, after market-close, Myriad reported its Fiscal Fourth-Quarter and Full-Year 2019 Financial Results. Therein, the Company reported that revenue in the fourth quarter was two percent below expectations largely due to lower reimbursement for its expanded carrier screening test. Later that day, on the Company’s Earnings Conference Call with investors, Bryan Riggsbee, Myriad’s CFO, revealed that “the FDA requested changes to the GeneSight [Psychotropic] test offering” and that the Company has “been in ongoing discussions with the FDA regarding its request.”
On this news, Myriad’s stock price fell $19.05. or 42.76%, to close at $25.50 on August 14, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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