Processing your request


please wait...

Case Page

 

Case Status:    ONGOING    
On or around 01/10/2020 (Date of last review)

Filing Date: September 27, 2019

According to the Complaint, Myriad is a molecular diagnostic company that develops and markets predictive, personalized, and prognostic medicine tests worldwide. Myriad offers, among other products, GeneSight, a DNA genotyping test to aid psychotropic drug selection for depressed patients; and Foresight, a prenatal test in the expanded carrier screening market for future parents to assess their risk of passing on a recessive genetic condition to their offspring.

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, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) GeneSight lacked evidence or information sufficient to support the tests in their current form, including their purported benefits; (ii) the U.S. Food and Drug Administration had requested changes to GeneSight and questioned the validity of the test’s purported benefits; (iii) Myriad had been in ongoing discussions with the FDA regarding the FDA’s requested changes to GeneSight; (iv) Myriad’s acquisition of Counsyl—and thereby, Foresight—caused the Company to incur the risk of suffering from lower reimbursement for its expanded carrier screening tests, which had the potential to, and actually did, materialize into a material negative impact on the Company’s revenue; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On December 23, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MYGN
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: D. Utah
DOCKET #: 19-CV-00707
JUDGE: Hon. Robert J. Shelby
DATE FILED: 09/27/2019
CLASS PERIOD START: 09/02/2016
CLASS PERIOD END: 08/13/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Harper Law, PLC
  2. Pomerantz LLP (New York)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available