Fulgent Genetics, Inc. Shareholder Notice: Robbins LLP Reminds Shareholders of Lead Plaintiff ...

SAN DIEGO, Oct. 04, 2022 (GLOBE NEWSWIRE) -- The Class: Shareholder rights law firm Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Fulgent Genetics, Inc. (FLGT" href="/company/FLGT" onmouseover="handlePagePreview('company','FLGT')" style="color:#4007a2 !important; text-decoration:underline !important; font-weight:bold;">NASDAQ: FLGTFLGT-pp">) securities between March 22, 2019 and August 4, 2022, for violations of the Securities Exchange Act of 1934. Fulgent provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patents in the U.S. and internationally.

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What is this Case About: The U.S. Department of Justice is Investigating Fulgent Genetics, Inc. (FLGT) for Violations of the Anti-Kickback Statute and the Stark Law

According to the complaint, during the class period, defendants failed to disclose that: (i) Fulgent had been conducting medically unnecessary laboratory testing, engaging in improper billing practices in relation to laboratory testing, and providing or receiving remuneration in violation of the Anti-Kickback Statute and Stark Law; (ii) accordingly, Fulgent was likely to become subject to enhanced legal and regulatory scrutiny; and (iii) Fulgent’s revenues, to the extent they were derived from the foregoing unlawful conduct, were unsustainable.