Investor Alert: Kaplan Fox Announces Investigation Of Myriad Genetics, Inc.

NEW YORK, May 3, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Myriad Genetics, Inc. ("Myriad Genetics" or the "Company") (NASDAQ: MYGN). 

A class action complaint has been filed in the United States District Court for the District of Utah against Myriad Genetics and certain current and former officers of the Company on behalf of investors that acquired Myriad Genetics' common stock between August 13, 2014 and March 12, 2018, inclusive (the "Class") alleging violations of the Securities Exchange Act of 1934.

According to the complaint, Myriad develops and markets molecular diagnostic products to provide physicians with information to help guide the care of their patients, to prevent disease, delay the onset of disease, and catch disease at an early stage.  Further, according to the complaint, in September 2013, Myriad launched its proprietary 25-gene myRisk Hereditary Cancer test ("myRisk"), which includes testing for multiple genes associated with cancer, including BRCA1 and BRCA2, both of which are associated with breast and ovarian cancer.

According to the complaint, on March 12, 2018, post-market, Myriad disclosed that it had received a subpoena from the Department of Health and Human Services, Office of Inspector General, "in connection with an investigation into possible false or otherwise improper claims submitted for payment under Medicare and Medicaid," specifically relating to Myriad's hereditary cancer testing.  The subpoena covers a time period from January 1, 2014, less than four months after the September 2013 launch of Myriad's myRisk test, through the date of the subpoena's issuance.

Following the March 12, 2018 news, Myriad's share price fell $4.01 per share, or 12.14%, to close at $29.01 per share on March 13, 2018.

If you are a member of the proposed Class, you may move the court no later than June 19, 2018 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact:

Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: [email protected]

SOURCE Kaplan Fox & Kilsheimer LLP

Related Links

http://www.kaplanfox.com