Le Lézard
Classified in: Health, Business
Subject: ATY

PROG Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Progenity, Inc. Shareholders of Class Action and Lead Plaintiff Deadline: October 27, 2020


NEW YORK, Aug. 31, 2020 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Progenity, Inc. ("Progenity" or "the Company") (NASDAQ: PROG) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Progenity common stock pursuant and/or traceable to the registration statement, as amended (the "Registration Statement"), issued in connection with Progenity's June 2020 initial public offering ("IPO"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/prog.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933. 

The Complaint alleges that the Registration Statement for the IPO was negligently prepared and, as a result, contained false and/or misleading statements and/or failed to disclose that: (1) Progenity had overbilled government payors by $10.3 million in 2019 and early 2020 and, thus, had materially overstated its revenues, earnings and cash flows from operations for the historical financial periods provided in the Registration Statement; (2) the Company would need to refund this overpayment in the second quarter of 2020 (the same quarter in which the IPO was conducted), adversely impacting its quarterly results; and (3) Progenity was suffering from accelerating negative trends in the second quarter of 2020 with respect to the Company's testing volumes, revenues and product pricing.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/prog or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Progenity you have until October 27, 2020 to request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE Bronstein, Gewirtz & Grossman, LLC


These press releases may also interest you

at 04:55
Growing demand for enterprise distributed ledger technology (DLT) for peer-to-peer information sharing GFT is one of a select number of global reseller partners supporting 'DAML for Corda' * GFT the go-to-firm for the financial services and insurance...

at 04:50
LG Electronics' XE4F HDBaseT-enabled Outdoor Digital Signage displays deliver high-quality dynamic digital content for outdoor installations. LG is a co-founder of the HDBaseT Alliance, the cross-industry association tasked with promoting and...

at 04:48
HGC Global Communications Limited (HGC), a fully-fledged fixed-line operator and ICT service provider with extensive local and international network coverage, services and infrastructure, announced the successful integration of MEF LSO Sonata APIs...

at 04:46
VEON Ltd. and (Euronext Amsterdam: VEON), through VEON Ventures, has joined Sequoia Capital India and Flourish Ventures as investors in ShopUp, Bangladesh's leading full-stack B2B commerce platform for small businesses, becoming ShopUp's first...

at 04:38
Bambuser AB has signed a pilot agreement to power Live Video Shopping for an iconic British luxury fashion label. The agreement gives the customer the right to use Live Video Shopping at a fixed cost of 35,000 GBP (approx 0.4 MSEK) during the 3-month...

at 04:35
Putian City, located in southeast China's Fujian Province, recently released the "Credit Shoe City" brand logo globally. The logo,...



News published on 31 august 2020 at 10:00 and distributed by: