Sema4 Holdings Corp. Class Action Lawsuit (SMFR Lawsuit)
What Is The SEMA4 Class Action Lawsuit About?
The SEMA4 Class Action Lawsuit (NASDAQ: SMRF) (Sema4 Holdings Corp. Class Action Lawsuit) was filed when after the market closed on August 15, 2022, The President and Chief R&D Officer stepped down and the Company announced that it was eliminating approximately 13% of its workforce as part of a series of restructuring and corporate realignments.
Is There A SMRF Class Action Lawsuit?
SMRF:NASDAQ Class Action Lawsuit (Sema4 Holdings Corp.) was filed on September 4, 2022 on behalf of shareholders. The lawsuit was filed because on August 15, 2022, SEMA4 announced changes to the Research and Development Leadership Team and the Company was eliminating approx. 13% of its workforce. Additionally, during a related conference call, SEMA4 revealed that it had “reversed $30.1 million of revenue this quarter related to prior periods”. On this news SEMA4’s stock fell 33.3% on August 16, 2022. The lawsuit claims that throughout the Class Period, Defendants made materially false and/or misleading statements.
Is There A Deadline For The SEMA4 Lawsuit?
The deadline for the SEMA4 Class Action Lawsuit (NASDAQ: SMRF) (Sema4 Holdings Corp. Class Action Lawsuit) is November 7, 2022 for a Lead Plaintiff.
How Much Did Shareholders Lose In SEMA4 Stock?
Shareholders who held SEMA4 securities saw stock fall $0.80, or 33.3% to close at $1.60 per share on August 16, 2022, on unusually heavy trading volume on the news when SEMA4 filed its Company quarterly report for the period of June 30, 2022, and disclosed that it had established a reserve of $39.2 million for potential recoupments of payments previously made by third-party payors.
What Is The SEMA4 Lawsuit Complaint?
Levi & Korsinsky, LLP announces that a SMRF class action lawsuit (Sema4 Holdings Corp. Class Action Lawsuit) has been filed on behalf of investors who purchased Sema4 Holdings Corp. Class Action Lawsuit (SMRF) securities between March 14, 2022 and August 15, 2022. For more on the SMFR Lawsuit please contact us today.
According to the Sema4 Holdings, Corp. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(1) there was a significant risk that SMFR would reverse a material amount of previously recognized revenue that it could not recoup from third party payors; (2) the Company was experiencing declining selling prices for its reproductive health segment; (3) as a result of the foregoing, SMFR’s financial results would be adversely affected; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Sema4 Holdings, Corp. you have until November 7, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Why Levi & Korsinsky, LLP Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
What Is The Lead Plaintiff Process?
THE LEAD PLAINTIFF PROCESS: According to the Private Securities Reform Act of 1995, any investor who bought or acquired Sema4 securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The Sema4 class-action lawsuit is directed by the lead plaintiff. To litigate the Sema4 Class Action lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the Sema4 Class Action lawsuit.
What Does SEMA4 Do?
SEMA4 Sema4 Holdings Corp., doing business as Sema4, operates as a health information company that enhances diagnosis, treatment, and prevention of disease through data. The company provides Centrellis, an AI-driven health intelligence platform that delivers comprehensive insights to biopharma to accelerate the drug discovery, development, and commercialization life-cycle, as well as analytics for actionable insights, pre-clinical and clinical trial support, and advanced sequencing services.
It also offers Sema4 Signal that enables and advances precision oncology care, from prevention to treatment to remission; and testing for carrier screening, noninvasive prenatal testing, and newborn screening, as well as hereditary cancer testing. In addition, the company provides COVID-19 testing solutions. Sema4 Holdings Corp. was incorporated in 2020 and is headquartered in Stamford, Connecticut.
Sema4 Holdings Corp. Class Action Lawsuit
Sema4 Holdings Corp. Class Action
Sema4 Holdings Corp. Lawsuit
SMFR Class Action Lawsuit
SMFR Class Action