Invested in
Fulgent Genetics?
Contact investor lawyers for a free evaluation of your potential claims for compensation today.
- Did you invest in Fulgent Genetics (NASDAQ: FLGT) in or before March 2019?
- Are you concerned about the FLGT stock price decline following the Fulgent’s disclosure of investigations by the SEC and the U.S. Department of Justice?
- Would you like your potential options for compensation and/or redress to be reviewed by an experienced team of investor lawyers?
Request a free case evaluation of your potential claims for compensation today, via email at arosca@rscounsel.law, through the contact form on this page, or by calling 888-998-0530.
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Free Case Evaluation
The Fulgent Genetics class action investigation page is the resource for investors who bought Fulgent Genetics shares and would like to evaluate compensation claims.
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Posted November 16, 2022
Fulgent Genetics Investigation
Securities attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner have been investigating alleged securities violations, corporate misconduct, and misrepresentations, as well as questionable business practices involving Fulgent Genetics, and have identified potential areas of concern.
What Fulgent Genetics Investors May Do
FLGT stock investors interested to evaluate potential options to seek compensation and/or pursue claims related to their Fulgent Genetics investment may contact investor rights attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner. Claims that are not timely pursued may expire or otherwise be lost, generally speaking.
Get in Touch with an Experienced Team of Investor Attorneys
Attorneys Rosca, Scarlato, and Weidner have extensive experience in seeking compensation related to investor harm and pursuing claims arising out of alleged violations of securities law and/or corporate misconduct, and are currently evaluating potential claims on behalf of investors in Fulgent Genetics.
They typically work on a contingent fee basis, do not require any money down from their clients, advance case expenses, and only get paid for their fees and expenses if and when successful, following review and approval by the Court of any fee application.
Concerned FLGT stock investors may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to discuss their potential options toll free at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Potential Compensation Claims
Fulgent Class Action Lawsuit Over Investor Losses
Fulgent Genetics, Inc., its Chief Executive Officer Ming Hsieh, and its Chief Financial Officer, Paul Kim, are named defendants in a class action complaint filed by a Fulgent Genetics investor alleging violations of securities laws.
According to the complaint, between March 22, 2019, and August 4, 2022, Fulgent Genetics and its principals allegedly made false and/or misleading statements and/or failed to disclose that, among others, Fulgent violated the Anti-Kickback Statute and Stark Law by conducting medically unnecessary laboratory testing and engaging in questionable billing practices.
The complaint further alleged that any revenues derived from the alleged misconduct were unsustainable and that defendants engaged in misrepresentations and/or omissions to hide from investors Fulgent Genetics’ exposure to legal and regulatory scrutiny, as well as significant financial and/or reputational harm.
In August 2022, Fulgent Genetics reportedly disclosed, among others, that the company’s reports filed with the Securities and Exchange Commission (“SEC”) from 2018 through the first quarter of 2020 were under investigation by the SEC.
Fulgent also disclosed an investigation by the U.S. Department of Justice into “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.”
Following the news, the price per FLGT share reportedly fell over 17%, or $11 per share.
As a result, the Fulgent Genetics class action plaintiff sought damages, pre- and post-judgment interest, as well as reasonable attorneys’ fees and costs, and expert fees. The class action is currently pending.
Invested in Fulgent Genetics and Would Like to Know if You Have a Claim for Compensation?
Investor rights attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner at Rosca Scarlato are investigating potential options and are evaluating potential claims for compensation on behalf of FLGT shareholders. They have decades of combined experience representing victims of corporate or financial misconduct.
If you are a Fulgent Genetics investor concerned about your investment and/or its value, you may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to learn more about your rights and for an evaluation of your potential claims, or to provide useful information.
All consultations are free. The Rosca Scarlato attorneys typically take cases like this on a contingency fee basis, advance all case costs, and only get paid for their fees and expenses if and when they are successful, following review and approval by the Court of any fee application.
To reach attorney Alan Rosca or his colleagues, Fulgent Genetics investors may call 888-998-0530, email arosca@rscounsel.law, or leave a message through the contact form on this webpage.
The general considerations on this page are for informational purposes only and do not constitute legal advice. Such legal advice can only be offered once the attorneys discuss each investor’s situation, learn of the relevant facts and can tailor any advice to that investor’s facts. Fulgent Genetics Class Action Investigation page is not affiliated with Fulgent Genetics. There has not been an adjudication on the merits of any allegations referenced in this blog post, as of the date of the posting.
Contact info:
Rosca Scarlato LLC – 216-946-7070 / 888-998-0530.
Alan Rosca – arosca@rscounsel.law
Paul Scarlato – pscarlato@rscounsel.law
Kathryn Weidner – kweidner@rscounsel.law
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DISCLAIMER
In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.