NEW YORK, April 28, 2022 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Natera, Inc. (“Natera” or the “Company”) (NASDAQ: NTRA) in the United States District Court for the Western District of Texas on behalf of investors who purchased Natera stock between February 26, 2020, and April 19, 2022, inclusive (the “Class Period”).
Natera, a Delaware corporation with principal executive offices in Austin, Texas, offers genetic testing in the areas of women’s health, oncology, and organ health. Among other things, the Company produces and markets a non-invasive prenatal test (NIPT), called “Panorama,” and a screening test for kidney transplant failure, called “Prospera.” Throughout the Class Period, Defendants repeatedly assured investors that Panorama was reliable, that Prospera was more accurate than competing tests, and that Natera’s growth was driven by its superior technology and customer experience.
The Complaint alleges that Defendants misrepresented and/or failed to disclose that: (1) Panorama was not reliable and resulted in high rates of false positives; (2) Prospera did not have superior precision compared to competing tests; (3) as a result of Defendants’ false and misleading claims about Natera’s technology, the company was exposed to substantial legal and regulatory risks; (4) Natera relied upon deceptive sales and billing practices to drive its revenue growth; and (5) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects lacked a reasonable basis.
Investors who purchased or otherwise acquired shares of Natera should contact the Firm prior to the June 27, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
