Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Cancer Genetics, Inc. (NASDAQ: CGIX) have filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between March 23, 2017 and April 2, 2018. Cancer Genetics, develops, commercializes, and provides molecular and biomarker-based tests and services in the U.S., Europe, and Asia.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/cancer-genetics-inc/
Cancer Genetics Accused of Issuing Misleading Statements Regarding Its Controls Over Financial Reporting
According to the complaint, beginning on March 23, 2017 and continuing through the class period, Cancer Genetics reaffirmed in filings with the Securities and Exchange Commission that “our disclosure controls and procedures were effective.”
On April 2, 2018, after the market closed, Cancer Genetics revealed that its “disclosure controls and procedures were not effective at December 31, 2017 as a result of the material weaknesses in internal controls¦ [and] may not prevent or detect misstatements.”
On this news, Cancer Genetic’s shares fell $0.55, or over 33.3% per share on April 3, 2018, and have yet to recover.
Cancer 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, [email protected], 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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