Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Natera, Inc. (NASDAQ: NTRA) common stock between February 26, 2020 and April 19, 2022, inclusive (the “Class Period”) have until June 27, 2022 to seek appointment as lead plaintiff in Schneider v. Natera, Inc., No. 22-cv-00398 (W.D. Tex.). The Natera class action lawsuit charges Natera and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
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CASE ALLEGATIONS: Headquartered in Austin, Texas, Natera offers genetic testing in the areas of women’s health, oncology, and organ health. Among other things, Natera produces and markets a non-invasive prenatal test (“NIPT”) called “Panorama,” and a screening test for kidney transplant failure called “Prospera.”
The Natera class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Panorama was not reliable and resulted in high rates of false positives; (ii) Prospera did not have superior precision compared to competing tests; (iii) as a result of defendants’ false and misleading claims about Natera’s technology, Natera was exposed to substantial legal and regulatory risks; (iv) Natera relied upon deceptive sales and billing practices to drive its revenue growth; and (v) therefore, defendants’ statements about Natera’s business, operations, and prospects lacked a reasonable basis.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Natera common stock during the Class Period to seek appointment as lead plaintiff. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
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