GeneDx Holdings Securities Fraud Class Action Result of Acquisition Performance Misrepresentations and 49% Stock Decline - Investors may Contact Lewis Kahn, Esq, at Kahn Swick & Foti, LLC
GeneDx Holdings Securities Fraud Class Action Result of Acquisition Performance Misrepresentations and 49% Stock Decline - Investors may Contact Lewis Kahn, Esq, at Kahn Swick & Foti, LLC
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with substantial losses that they have until August 3, 2026 to file lead plaintiff applications in a securities class action lawsuit against GeneDx Holdings Corp. (NasdaqGS: WGS) (“GeneDx” or the “Company”), if they purchased or otherwise acquired the Company’s shares between April 16, 2025 and May 4, 2026, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Connecticut.
What You May Do
If you purchased shares of GeneDx as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-wgs/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 3, 2026.
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About the Lawsuit
GeneDx and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 4, 2026, the Company reported its financial results for the first quarter of fiscal year 2026, disclosing a drop in adjusted gross margin from 74% to 69%, that it had missed its revenue estimates for both its exome and genome lines, and lowered its guidance for full year revenue to $475 – $490 million, down from $540 – $550 million. The Company also disclosed a $31.2 million impairment loss attributable to its prior acquisition of Fabric Genomics, an AI-driven genomic interpretation company, which the Company had touted as expected to expand its addressable market through multiple scalable revenue streams and transform static data into a recurring revenue-generating platform.
On this news, the price of GeneDx shares fell by $33.42 per share, or 49.2%.
The case is Basma v. GeneDx Holdings Corp., No. 26-cv-00880.
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About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
>>>For More Information about the case, Click HERE
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Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
