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Case Status:    DISMISSED    
On or around 09/08/2016 (Other)

Filing Date: March 24, 2016

According to the Complaint, Natera is a leading genetic testing company that develops and commercializes noninvasive methods for analyzing DNA. Natera's primary product is Panorama, a non-invasive prenatal test ("NIPT"), launched in March 2013, which the Company claims is the "most accurate NIPT commercially available. in the United States." Natera went public on July 2, 2015 at an IPO price of $18 per share, and quickly traded up to close its first day of public trading at $22.74 per share. The Company's common stock is listed and trades on the NASDAQ stock exchange under the ticker symbol "NTRA."

The Complaint alleges the offering materials falsely and misleadingly represented the state of Natera's business, including that Natera had experienced a nearly $20 million net loss in the Company's second quarter 20 15 ("2Q 15") -which had ended before the IPO -and which loss exceed any other quarterly loss the Company had suffered by as much as 3700% since at least 2Ql3 when Panorama was released. In addition, Natera had experienced a 2Q15 revenue decline, which was also the second quarter in a row of declining revenue - contrary to the state of Natera's business depicted in the Registration Statement. In fact, Panorama tests accessioned in which revenue was recognized had already flat-lined at 28,000+ tests, and the percent of Panorama tests accessioned in which revenue was recognized in the same quarter had dramatically declined to a mere 47%, far below the percentage in prior quarters, indicating bleak prospects for the Company's principal product- far from what was portrayed in the Registration Statement and roadshow for the Offering.

This action was remanded to state court on August 23, 2016.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Healthcare Facilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NTRA
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 16-CV-01460
JUDGE: Hon. Haywood S Gilliam, Jr
DATE FILED: 03/24/2016
CLASS PERIOD START: 07/02/2015
CLASS PERIOD END: 03/24/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  2. VanOverbeke Michaud & Timmony, P.C.
    79 Alfred Street, VanOverbeke Michaud & Timmony, P.C., MI 48201
    313.578.1200 313.578.1200 ·
No Document Title Filing Date