Neogenomics Lawsuit NEO | Deadline February 6, 2023
Neogenomics Class Action Lawsuit (NEO Lawsuit)
A lawsuit has been filed against the Neogenomics Inc., (NEO:NASDAQ) on December 6, 2022 at the court of the Southern District of California.
Investors who purchased or otherwise acquired NEO common stock during the period from February 27, 2020 through April 26, 2022 can register their information before the deadline of February 6, 2023.
Is Neogenomics Involved in a Securities Class Action Lawsuit?
Yes, a lawsuit has been filed against Neogenomics Inc. on December 6, 2022, on behalf of shareholders during the period from February 27, 2020 – April 26, 2022.
What Is The Neogenomics Lawsuit About?
The Neogenomics Class Action Lawsuit (NASDAQ:NEO) (Neogenomic Class Action Lawsuit) was filed on behalf of the investors who purchased Neogenomics Inc. (NEO) securities between February 27, 2020 to April 26, 2022. For more on the NEO Lawsuit please contact us today.
According to the Neogenomics lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
Defendants represented to investors that it had a “comprehensive menu” of cancer tests with “every kind of testing modality that you can use for cancer, including some of the fast-growing new ones, like next-generation sequencing,” which positioned the Company as a “one-stop-shop” for pathologists and gave NeoGenomics “a competitive advantage” as a “go-to reference lab with a comprehensive menu for just about any kind of tests that you want to have done in cancer.”
Defendants represented that NeoGenomics could “leverage” the supposedly “fixed cost” structure of its business to improve profitability as revenue increased and touted the Company’s “robust Compliance Program . . . to ensure compliance with the myriad of . . . laws, regulations and governmental guidance applicable to our business.”
How much did NEO stock drop?
Shareholders who held NEO securities saw stock fell $8.18 per share, or 17.6%, from $46.53 per share on November 3, 2021 to $38.35 per share at the close of trading on November 4, 2021.
Moreover, the price of NeoGenomics common stock fell $5.30 per share, or 29.8%, from $17.79 per share on March 28, 2022 to $12.49 per share at the close of trading on March 29, 2022.
Additionally, the price of NeoGenomics common stock fell $0.41 per share, or 3.8%, from $10.85 per share on April 26, 2022 to $10.44 per share at the close of trading on April 27, 2022.
What does NEO Do?
NeoGenomics, Inc. operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments.
The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.
It provides cytogenetics testing services to study normal and abnormal chromosomes and their relationship to diseases; fluorescence in-situ hybridization testing services that focus on detecting and locating the presence or absence of specific DNA sequences and genes on chromosomes; flow cytometry testing services to measure the characteristics of cell populations; and immunohistochemistry and digital imaging testing services to localize cellular proteins in tissue section, as well as to allow clients to visualize scanned slides, and perform quantitative analysis for various stains.
The company also provides molecular testing services, which focus on the analysis of DNA and/or RNA, and the structure and function of genes at the molecular level; morphologic analysis, which is the process of analyzing cells under the microscope by a pathologist for the purpose of diagnosis; and testing services in support of its pharmaceutical clients’ oncology programs covering discovery and commercialization, as well as acts as a reference laboratory supplying anatomic pathology testing services.
It has a strategic alliance agreement and laboratory services agreement with Inivata Limited. The company was founded in 2001 and is headquartered in Fort Myers, Florida.
Which Class Action Attorney Firm Can Help With The NEO Lawsuit?
Levi & Korsinsky LLP is a Securities Class Action Law Firm. For over 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Does It Cost Me To Join The NEO Class Action?
No, there are no out of pocket costs for you to join Neogenomics Lawsuit.
What Is the Lead Plaintiff Process?
According to the Private Securities Reform Act of 1995, any investor who bought or acquired NEO securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The NEO class-action lawsuit is directed by the lead plaintiff. To litigate the Neogenomics Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the Neogenomics Class Action Lawsuit.
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