COMPANY |
CareDx, Inc. |
COURT |
United States District Court for the Northern District of California |
CASE NUMBER |
22-cv-03023 |
JUDGE |
The Honorable Trina L. Thompson |
CLASS PERIOD |
February 24, 2021 and May 5, 2022 |
SECURITY TYPE |
Class A Common Stock |
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired CareDx, Inc. (“CareDx”) (NASDAQ: CDNA) common stock between February 24, 2021, and May 5, 2022, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, the Defendants mislead investors and/or failed to disclose that: (1) the Defendants had engaged in a variety of improper and illegal schemes to inflate testing services revenue and demand, including pushing a surveillance protocol through inaccurate marketing materials, offering extravagant inducements or kickbacks to physicians and other providers, and improperly bundling expensive testing services with other blood tests as part of the RemoTraC service; (2) these practices, and others, subjected CareDx to an undisclosed risk of regulatory scrutiny; (3) these practices rendered CareDx’s testing services revenue reported throughout the Class Period artificially inflated; and (4) as a result, the defendants’ positive statements about CareDx’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
The Motion to Dismiss is currently pending and awaiting the Court’s decision. This case is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.