NEW ORLEANS, Sept. 13, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder data service, reminds buyers that they’ve till November 7, 2022 to file lead plaintiff purposes in a securities class motion lawsuit towards Sema4 Holdings Corp. (NasdaqGS: SMFR, SMFRW), in the event that they bought the Company’s securities between March 14, 2022 and August 15, 2022, inclusive (the “Class Period”). This motion is pending within the United States District Court for the District of Connecticut.
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Sema4 buyers ought to go to us at https://claimsfiler.com/cases/nasdaq-smfr/ or name toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC can be found to debate your authorized choices.
About the Lawsuit
Sema4 and sure of its executives are charged with failing to reveal materials data in the course of the Class Period, violating federal securities legal guidelines.
On August 15, 2022, post-market, the Company disclosed that its President and Chief R&D Officer was stepping down from these roles, that it was eliminating roughly 13% of its workforce as a part of a collection of restructuring and company realignments, and that it had “reversed $30.1 million of revenue this quarter related to prior periods,” in reference to negotiations with “one of [Sema4’s] larger commercial payors regarding the potential recoupment of payments for Sema4 carrier screening services rendered from 2018 to early 2022.”
On this information, shares of Sema4 fell $0.80, or 33.3%, to shut at $1.60 per share on August 16, 2022, on unusually heavy buying and selling quantity.
The case is Helo v. Sema4 Holdings Corp., et al., Case No. 22-cv-01131.
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