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Investigation announced for Investors in NASDAQ: MYGN shares over possible Violations of Securities Laws by Myriad Genetics, Inc.

08-26-2019 09:29 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Myriad Genetics, Inc. (NASDAQ: MYGN) shares over potential securities laws violations by Myriad

An investigation for investors in Myriad Genetics, Inc. (NASDAQ: MYGN) shares over potential securities laws violations by Myriad

An investigation was announced over potential securities laws violations by Myriad Genetics, Inc. in connection with certain financial statements.

Investors who purchased shares of Myriad Genetics, Inc. (NASDAQ: MYGN), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Myriad Genetics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Salt Lake City, UT based Myriad Genetics, Inc., a molecular diagnostic company, develops and markets predictive, personalized, and prognostic medicine tests worldwide. Myriad Genetics, Inc. reported that its Total Revenue rose from $743.7 million for the 12 months period that ended on June 30, 2018 to $851.1 million for the 12 months period that ended on June 30, 2019 and that its Net Income over those respective time periods declined from $133.3 million to $4.6 million.

On August 13, 2019, after the market closed, Myriad Genetics, Inc issued its fourth quarter and full year results for 2019, reporting that revenue in the fourth quarter was 2% below expectations largely due to lower reimbursement for its expanded carrier screening test. Later that day, on Myriad’s earnings conference call with investors, Bryan Riggsbee, Myriad’s Chief Financial Officer, also revealed that “the FDA requested changes to the GeneSight [Psychotropic] test offering” and that Myriad has “been in ongoing discussions with the FDA regarding its request.”

Shares of Myriad Genetics, Inc. (NASDAQ: MYGN) declined from $47.10 per share on August 13, 2019 to as low as $22.32 per share on August 23, 2019.

Those who purchased shares of Myriad Genetics, Inc. (NASDAQ: MYGN) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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