NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Cancer Genetics, Inc. (NASDAQ:CGIX) resulting from allegations that Cancer Genetics may have issued materially misleading business information to the investing public.
On April 2, 2018, Cancer Genetics reported that, following its CEO’s departure, it conducted a comprehensive review of its strategy and organization. This led Cancer Genetics to record a bad debt expense of $4.4 million and write off $1.8 million of its accounts receivable in the fourth quarter, with a significant portion related to collection issues with accounts receivables recorded after 2015. Cancer Genetics also reported that, on December 31, 2017, its “cash position and history of losses required management to assess [its] ability to continue operating as a going concern[.]” On this news, shares of Cancer Genetics fell $0.55 per share or over 33% to close at $1.10 per share on April 3, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Cancer Genetics investors. If you purchased shares of Cancer Genetics please visit the firm’s website at http://www.rosenlegal.com/cases-1315.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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