
Amicus Therapeutics, Inc. (FOLD)
Whether directors and officers of Amicus Therapeutics, Inc. (FOLD) breached their fiduciary duties to the company and its shareholders.
Investigation
04/19/2022
Initial Lawsuit
04/27/2022
Lawsuit Progression
06/27/2022
Investors investigation into Natera’s statements about Panorama’s reliability, accuracy, superiority to competing tests, and company growth driven by its technology and customer experience.
01/01/2022
The New York Times publishes an investigative report on non-invasive prenatal test (NIPTs) manufactured by Natera and other diagnostic testing companies. “The tests initially looked for Down syndrome and worked very well. But as manufacturers tried to outsell each other, they began offering additional screenings for increasingly rare conditions. The grave predictions made by those newer tests are usually wrong, an examination by The New York Times has found.”
“In a recent study, Natera said that its latest algorithm would identify about an equal number of false positives. But that same study included the results from when the tests were actually taken. Those numbers suggest there would be three times as many false positives as actual cases.“
Stock Impact
Close | Previous close | Price variation | Percentage variation |
---|---|---|---|
$91.33 | $93.39 | $-2.06 | -2.21% |
This is a class action lawsuit on behalf of a class of all persons and entities who purchased or otherwise acquired Natera common stock between February 26, 2020, and April 19, 2022, inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:
(1) Panorama was not reliable and resulted in high rates of false positives;
(2) Prospera did not have superior precision compared to competing tests;
(3) as a result of defendants’ false and misleading claims about Natera’s technology, the company was exposed to substantial legal and regulatory risks;
(4) Natera relied upon deceptive sales and billing practices to drive its revenue growth; and
(5) as a result of the foregoing, defendants’ statements about the company’s business, operations, and prospects lacked a reasonable basis.
The lead plaintiff deadline has passed, we will update this page as the lawsuit progresses.
Last event retrieved on 10/08/2022.
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