DEADLINE FOR INVESTORS: Sema4 Holdings Corp. Investors Suffering Substantial Losses Have Opportunity to File Sema4 Class Action
SAN DIEGO, September 17, 2022 /PRNewswire/ — The law firm of Robbins Geller Rudmann & Dowd LLP announces that purchasers or acquirers of Sema4 Holdings Corp. (NASDAQ: SMFR; SMFRW) between March 14, 2022 and August 15, 2022the two dates included (the “Class Period”) have until November 7, 2022 to request an appointment as lead applicant. The Sema4 class action lawsuit – subtitled Helo vs. Sema4 Holdings Corp.#22-cv-01131 (D. Conn.) – accuses Sema4 and some of its top executives of violating the Securities Exchange Act of 1934.
If you have suffered substantial losses and wish to act as the lead plaintiff of the Sema4 class action, please provide your information here:
You can also contact a lawyer JC Sanchez of Robbins Geller by calling 800/449-4900 or emailing [email protected].
CASE ALLEGATIONS: Sema4 is a healthcare company that uses artificial intelligence to enable personalized medicine.
The Sema4 The class action alleges that the defendants failed to disclose that: (i) there was a significant risk that Sema4 could reverse a significant amount of previously recognized revenue that it could not recover from third-party payers; (ii) Sema4 was experiencing a drop in the selling prices of its reproductive health segment; and (iii) thereby, the financial results of Sema4 would be adversely affected.
On August 15, 2022Sema4 announced changes to its research and development leadership team, including that Sema4 founder, defendant Eric Schadt, was stepping down as President and Director of Research and Development. Sema4 also revealed that it was eliminating approximately 13% of its workforce as part of a series of corporate restructurings and realignments. During the related conference call, Sema4 further revealed that it had “spilled $30.1 million of revenue for this quarter linked to previous periods”, in the context of negotiations with “one of the [Sema4’s] largest commercial payers regarding the potential recovery of payments for Sema4 carrier testing services rendered from 2018 to early 2022. to investors.
THE PRINCIPAL APPLICANT PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased or acquired Sema4 securities during the Class Period to seek appointment as lead plaintiff. A principal plaintiff is generally the plaintiff with the greatest financial interest in the remedy sought by the putative class that is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members by directing the Sema4 class action. The main plaintiff can select a law firm of his choice to plead Sema4 class action. An investor’s ability to participate in any potential future takeover does not depend on its status as the lead claimant of the Sema4 class action.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The firm is ranked #1 in the 2021 ISS Securities Class Action Services Top 50 report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other company from the plaintiffs. With 200 attorneys in 9 offices, Robbins Geller is one of the largest plaintiffs firms in the world, and the firm’s attorneys have secured many of the largest securities class action recoveries in history, including the most largest ever securities class action recovery – $7.2 billion – in In re Enron Corp. Dry. Litigation Please visit the following page for more information:
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Robbins Geller Rudman & Dowd LLP
655 W. Broadway, Suite 1900, San Diego, California 92101
JC Sanchez, 800-449-4900
SOURCE Robbins Geller Rudman & Dowd LLP