Myriad Genetics Securities Litigation

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Lawsuit Overview

Defendant:Myriad Genetics, Inc.
Date Filed:April 20th, 2018
Sector:Health Care
Industry:Biotechnology: In Vitro & In Vivo Diagnostic Substances

According to the law firm press release, Myriad develops and markets molecular diagnostic products to provide physicians with information to help guide the care of their patients, to prevent disease, delay the onset of disease, and catch disease at an early stage. Myriad purports to employ a variety of proprietary techniques designed to provide an understanding of the genetic basis of disease and the role of genes in the onset, progression, and treatment of disease.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Myriad was submitting false or otherwise improper claims for payment under Medicare and Medicaid for the Company's hereditary cancer testing; (ii) the foregoing conduct would foreseeably subject Myriad to heightened regulatory scrutiny and/or enforcement action; (iii) Myriad's revenues from its hereditary cancer testing were in part the product of improper conduct and unlikely to be sustainable; and (iv) as a result, Myriad's public statements were materially false and misleading at all relevant times.

On April 24, 2018, Plaintiff filed a corrected Complaint.

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First Identified Complaint

Matthew Kessman, et al. v. Myriad Genetics, et al.

Date Filed:April 20th, 2018
Class Period Start:August 13th, 2014
Class Period End:March 12th, 2018
First Identified Complaint Filings
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