SAN DIEGO & SALT LAKE CITY--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Myriad Genetics, Inc. (NasdaqGS: MYGN) have filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between August 13, 2014 and March 12, 2018. Myriad, a molecular diagnostic company, develops novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/myriad-genetics-inc
Myriad Genetics Accused of Defrauding Medicare and Medicaid
According to the complaint, Myriad represented in its public filings that the company was in compliance with applicable laws and regulations related to fraud and improper billing practices. In September 2013, Myriad launched its 25-gene myRisk Hereditary Cancer test, which includes testing for multiple genes associated with cancer. It came as a surprise to investors when Myriad revealed on March 12, 2018, that the Department of Health and Human Services, Office of Inspector General subpoenaed documents in connection with an investigation into possible improper claims for payment under Medicare and Medicaid specifically relating to Myriad's billing for its hereditary cancer testing. On this news, Myriad's stock fell $4.01, or over 12%, to close at $29.01 per share on March 13, 2018.
Myriad Genetics Shareholders Have Legal Options
If you would like more information about your rights and potential remedies, contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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