SAN FRANCISCO, May 24, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges CareDx, Inc. (NASDAQ: CDNA) investors to with significant losses to submit your losses now.
Class Period: Feb. 24, 2021 – May 5, 2022
Lead Plaintiff Deadline: July 22, 2022
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CareDx, Inc. (CDNA) Securities Fraud Class Action:
The complaint alleges that throughout the Class Period, CareDx reported growing revenue and strong demand in the Company’s testing services segment.
These statements were misleading in that Defendants failed to disclose that: (1) Defendants engaged in a variety of improper and illegal schemes to inflate testing services revenue and demand, including pushing a surveillance protocol through inaccurate marketing materials, offering extravagant inducements or kickbacks to physicians and other providers, and improperly bundling expensive testing services with other blood tests as part of the RemoTraC service; (2) these practices, and others, subjected CareDx to an undisclosed risk of regulatory scrutiny; and, (3) these practices rendered the Company’s testing service revenue reported throughout the Class Period artificially inflated.
Investors began to learn the truth on Oct. 28, 2021, when CareDx revealed that it was under investigation by the DOJ and the SEC in connection with possible violations of the False Claims Act as well as certain accounting and public reporting practices.
Then, on...
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