Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Myriad Genetics, Inc. (MYGN)

NEW YORK, April 23, 2018 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Myriad Genetics, Inc. (“Myriad Genetics” or the “Company”) (Nasdaq:MYGN) in the United States District Court for the Central District of California on behalf of a class consisting of investors who purchased or otherwise acquired Myriad Genetics securities on the open market from August 13, 2014 through March 12, 2018, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.

The Complaint alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Myriad Genetics was submitting false or otherwise improper claims for payment under Medicare and Medicaid for Myriad’s hereditary cancer testing; (2) the foregoing conduct would foreseeably subject Myriad to heightened regulatory scrutiny and/or enforcement action; (3) Myriad Genetics’ revenues from its hereditary cancer testing were in part the product of improper conduct and unlikely to be sustainable; and (4) as a result, Myriad Genetics’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the June 19, 2018 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 [email protected] or [email protected].

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