Skip to Main Content

Myriad Genetics, Inc. Securities Fraud Class Action

View Complaint
COMPANY         Myriad Genetics, Inc.
COURT United States District Court for the District of Utah
CASE NUMBER 19-cv-00707
JUDGE The Hon. David Barlow
CLASS PERIOD August 9, 2017 - February 6, 2020
SECURITY TYPE  Common Stock

Case Background:

On September 27, 2019, the initial complaint in this securities class action was filed against Myriad Genetics, Inc. (“Myriad” or the “Company”) and certain of Myriad’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of all those who purchased or acquired Myriad common stock between August 9, 2017 and February 6, 2020, (the “Class Period”) both dates inclusive.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) GeneSight lacked evidence or information sufficient to support the tests in their current form, including their purported benefits; (2) the U.S. Food and Drug Administration (“FDA”) had requested changes to GeneSight and questioned the validity of the test’s purported benefits; (3) Myriad had been in ongoing discussions with the FDA regarding the FDA’s requested changes to GeneSight; (4) Myriad’s acquisition of Counsyl—and thereby, Foresight—caused the Company to incur the risk of suffering from lower reimbursement for its expanded carrier screening tests, which had the potential to, and actually did, materialize into a material negative impact on the Company’s revenue; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Current Status of Case:

Lead Plaintiff filed an amended complaint (the “Complaint”) on February 21, 2020. Defendants filed a Motion to Dismiss the Complaint on May 5, 2020.  On March 16, 2021, the Court issued an Order denying Defendant’s Motion to Dismiss.  On June 7, 2021, Lead Plaintiff filed a Motion to Certify the Class which was granted by the Court on December 13, 2021.  A Final Settlement Hearing was held on December 8, 2023.  On December 15, 2023, the Court entered an Order approving the settlement and entered final judgment. This action has concluded.

The deadline to file a claim is January 16, 2024.  If you have any questions or need further information about this settlement, you may go to the following website, www.MyriadGeneticsSecuritiesLitigation.com, or you can contact the claims administrator, A.B. Data, Ltd., at 1-877-331-0728.

f you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com

Please complete this form relating to your transactions for Myriad Genetics, Inc. (Nasdaq: MYGN) securities between August 9, 2017 and February 6, 2020, both dates inclusive (the “Class Period”).

You may also contact Jon Naji, Esq. at (484) 270-1453; or you may submit your information via email at info@ktmc.com, or you may click here to print a PDF of this form.

SUBMIT YOUR INFORMATION
* Denotes required field
Date
# of Shares
Price per Share
Date
Principal Amount
Amount Paid
Series or CUSIP
Date
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of Myriad Genetics, Inc. (2019) prior to the Class Period?
Are you a current or former employee of Myriad Genetics, Inc. (2019)?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
I agree to the KTMC disclaimer
I would like to receive new case alerts by email