INVESTOR ALERT: Fulgent Genetics, Inc. Investors Suffering Substantial Losses Have Opportunity to File Class Action Fulgent Genetics – FLGT

SAN DIEGO–(BUSINESS WIRE)–Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of securities of Fulgent Genetics, Inc. (NASDAQ: FLGT) between March 22, 2019 and August 4, 2022 inclusive (the “Class Period”) have until November 21, 2022 to request an appointment as as lead applicant in the Searing genetics class action. Subtitle Pugley vs. Fulgent Genetics, 22-cv-06764 (CD Cal.), the Searing genetics The class action accuses Fulgent Genetics and some of its senior executives of violating the Securities Exchange Act of 1934.

If you have suffered substantial losses and wish to act as the lead plaintiff of the Searing genetics class action, please provide your information here:

You can also contact a lawyer JC Sanchez of Robbins Geller by calling 800/449-4900 or emailing [email protected].

CASE ALLEGATIONS: Fulgent Genetics provides COVID-19, molecular diagnostics and genetic testing services to physicians and patients. Fulgent Genetics must comply with federal anti-kickback law, which prohibits the knowing and deliberate payment of “compensation” to induce or reward patient referrals or the generation of business involving any payable item or service. by federal health care programs, as well as the federal Stark Act, which prohibits a physician from making referrals for certain designated health services, including laboratory services, which are covered by the Medicare program, to an entity with which the physician or an immediate family member has a direct or indirect financial relationship.

The Searing genetics The class action alleges that the defendants failed to disclose that: (i) Fulgent Genetics performed medically unnecessary lab tests, engaged in improper billing practices in connection with lab tests, and provided or received compensation in violation of anti-bribery law and Stark Law; (ii) as a result, Fulgent Genetics was subject to increased legal and regulatory scrutiny; (iii) Fulgent Genetics’ revenues, to the extent that they were derived from the aforementioned unlawful conduct, were unsustainable; and (iv) the foregoing, when disclosed, was likely to subject Fulgent Genetics to significant financial and/or reputational harm.

On August 4, 2022, Fulgent Genetics released its second quarter 2022 financial results, disclosing, among other things, that the United States Securities and Exchange Commission (“SEC”) was investigating certain of Fulgent Genetics’ reports filed with the SEC from 2018 through the first quarter of 2020. The disclosure follows Fulgent Genetics’ receipt of a civil inquiry request from the U.S. Department of Justice regarding its “investigation into allegations of drug testing.” medically unnecessary labs, improper billing for lab tests, and compensation received or provided in violation of anti-bribery law and the Stark Act.” At this news, Fulgent Genetics’ stock price fell more than 17%, hurting investors.

THE PRINCIPAL APPLICANT PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired securities of Fulgent Genetics during the Class Period to seek appointment as a lead plaintiff. A principal plaintiff is generally the plaintiff with the greatest financial interest in the remedy sought by the putative class that is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members by directing the Searing genetics class action. The main plaintiff can select a law firm of his choice to plead Searing genetics class action. An investor’s ability to participate in any potential future takeover does not depend on its status as the lead claimant of the Searing genetics class action.

ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The firm is ranked No. 1 in the 2021 ISS Securities Class Action Services Top 50 report for recovering nearly $2 billion for investors last year alone, more than triple the amount recovered by any other firm from plaintiffs. With 200 attorneys in 9 offices, Robbins Geller is one of the largest plaintiffs firms in the world and the firm’s attorneys have secured many of the largest securities class action recoveries in history, including the largest never-recorded securities class action recovery – $7.2 billion – in In re Enron Corp. Dry. Litigation Please visit the following page for more information:

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