NEW YORK, Aug. 28, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Progenity, Inc. (NASDAQ: PROG) on behalf of Progenity stockholders. Our investigation concerns whether Progenity has violated the federal securities laws and/or engaged in other unlawful business practices.
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In June 2020, Progenity completed its initial public offering (“IPO”), in which it sold approximately 6.7 million shares for $15.00 per share.
On August 13, 2020, Progenity announced its second quarter 2020 results in a press release. Therein, the Company disclosed that “second-quarter revenues reflected a $10.3 million accrual for refunds to government payors,” related to a settlement with the U.S. Department of Justice and several states to resolve claims that Progenity had fraudulently billed federal healthcare programs for prenatal tests and provided kickbacks to physicians to induce them to order Progenity tests for their patients.
On this news, the Company’s share price fell $1.24 per share, or 14%, to close at $7.71 per share on August 14, 2020.
If you purchased or otherwise acquired Progenity shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato, Marion Passmore, or Brandon Walker by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com