SAN FRANCISCO, Oct. 29, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Sema4 Holdings Corp. SMFR investors who suffered significant losses to submit your losses now.

Class Period: Mar. 14, 2022 – Aug. 15, 2022
Lead Plaintiff Deadline: Nov. 7, 2022
Visit: www.hbsslaw.com/investor-fraud/SMFR
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Sema4 Holdings Corp. SMFR Securities Fraud Class Action:

The complaint challenges Defendants' statements concerning Sema4's billing practices and reported revenues.

Specifically, Defendants allegedly misrepresented and concealed: (1) there was a significant risk that Sema4 would reverse a material amount of previously recognized revenue that it could not recoup from third party payors; (2) the company was experiencing declining selling prices for its reproductive health segment; and, (3) as a result of the foregoing, Sema4's financial results would be adversely affected.

The truth emerged on Aug. 15, 2022, when Sema4 announced disappointing Q2 2022 financial results, including revenues of just $36 million, or 23% lower than the prior year's quarter. The company blamed its dismal results on having reversed appx. $30 million revenues attributable to overpayments by a third-party payor prior to Q2 2022. The company also announced its President and Chief R&D Officer (Eric Schadt) was stepping down and it was eliminating approximately 13% of its workforce as part of a series of restructuring and corporate realignments.

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