Myriad Lawsuit: Bernstein Liebhard LLP Reminds Investors of Important Deadline in Class Action Against Myriad Genetics, Inc. - MYGN

NEW YORK, May 03, 2018 -- Bernstein Liebhard LLP reminds investors of the important June 19, 2018 lead plaintiff deadline in the class action lawsuit against Myriad Genetics, Inc. (“Myriad Genetics” or the “Company”). The lawsuit seeks to recover damages on behalf of those who purchased the securities of Myriad Genetics (NASDAQ:MYGN) between August 13, 2014 and March 12, 2018, both dates inclusive (the “Class Period”).

To join the Myriad Genetics class action, and/or if you have information relating to this matter, please visit our MYRIAD GENETICS SHAREHOLDER PAGE or contact Daniel Sadeh toll free at (877) 779-1414 or [email protected].

According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Myriad was submitting false or otherwise improper claims for payment under Medicare and Medicaid for the Company’s hereditary cancer testing; (2) the foregoing conduct would foreseeably subject Myriad to heightened regulatory scrutiny and/or enforcement action; (3) Myriad’s revenues from its hereditary cancer testing were in part the product of improper conduct and unlikely to be sustainable; and (4) as a result, Myriad’s public statements were materially false and misleading at all relevant times.

On March 12, 2018, during aftermarket hours, Myriad disclosed that it had received a subpoena from the U.S. Department of Health and Human Services, Office of Inspector General, in connection with “an investigation into possible false or otherwise improper claims submitted for payment under Medicare and Medicaid,” specifically relating to Myriad’s hereditary cancer testing. The subpoena covers a time period from January 1, 2014—less  than four months after the September 2013 launch of Myriad’s myRisk cancer test—through the date of the subpoena’s issuance. On this news, Myriad’s stock fell $4.01, or 12.14%, to close at $29.01 on March 13, 2018, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than June 19, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

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Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
[email protected]