On or around 10/30/2018 (Ongoing date of last review)
Filing Date: April 20, 2018
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. On June 25, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on August 31.
Company & Securities Information
Defendant: Myriad Genetics
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: MYGN
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Matthew Kessman, et al. v. Myriad Genetics, et al.
COURT: D. Utah
DOCKET #: 18-CV-00336
JUDGE: Hon. Paul M. Warner
DATE FILED: 04/20/2018
CLASS PERIOD START: 08/13/2014
CLASS PERIOD END: 03/12/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Peters Scofield 7430 Creek Road Ste 303, Peters Scofield, UT 84903 (801)322-2002 ·