GeneDx Holdings Corp. Class A Common Stock (NASDAQ: WGS)
3 Days left to seek lead plaintiff status.
The complaint alleges misrepresentations and omissions regarding the Company’s statements regarding the impact of Fabric on the overall business of the Company. Throughout the Class period, WGS repeatedly made statements that would have caused the average investor to believe that the Fabric acquisition would improve the Company’s financials and create efficiencies between it and the Company’s core business. These statements include such statements such as: “There is room to run in terms of reducing COGS in the future by combining the best of capability between GeneDx and Fabric as we lean into the best possible algorithms to optimize dry lab processes.” These and similar statements made throughout the Class Period were false. In truth, Defendants knew of, or recklessly disregarded, significant problems in Fabric’s viability that would negatively impact WGS’s overall business and operations. As a result, the Company’s statements concerning its business, operations, and prospects lacked a reasonable factual basis, and shares of WGS common stock traded at artificially inflated prices during the Class Period.