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SAN FRANCISCO, Sept. 23, 2019 (GLOBE NEWSWIRE) -- Hagens Berman reminds investors in Myriad Genetics, Inc. (NASDAQ: MYGN) of the firm’s investigation of possible disclosure violations.
T he firm’s investigation concerns the accuracy of Myriad’s statements regarding its GeneSight® Psychotropic test, a kit intended to analyze how a patient’s genes may affect their response to certain drugs. The Company has repeatedly promoted the quality and attributes of this new product.
But on Aug. 13, 2019, Myriad shocked investors when it disclosed that the FDA had demanded changes to GeneSight®. Although the Company claimed to have submitted a proposed solution, Myriad admitted that it did not know if regulators would accept the changes. Myriad also refused to discuss how increased regulatory scrutiny may impact sales of the test. This news drove the price of Myriad shares down 42%.
If you invested in Myriad before Aug. 14, 2019 and suffered significant losses contact Hagens Berman immediately to discuss your options.
“We’re focused on investors’ losses, and whether issues with GeneSight® should have been disclosed earlier,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Myriad should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email MYGN@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000